Friday 23 February 2018

Usmanov won't sell Gunners stake

Alisher Usmanov Photo: Getty Images
Alisher Usmanov Photo: Getty Images

Russian billionaire Alisher Usmanov insists he will not sell his stake in Arsenal after fellow shareholder Stan Kroenke triggered a mandatory buyout offer for the club.

American businessman Kroenke secured a 62.89pc controlling share in the club earlier this week after agreeing to buy out major shareholders Danny Fiszman (16.1pc) and Lady Nina Bracewell-Smith (15.9pc) for around £234m.

By passing the 30pc threshold, Kroenke is obliged to make a cash offer for the remaining capital at £11,750 per share. The club's total value has been set at £731m.

Kroenke's main focus will now be on purchasing the £194m stake owned by Usmanov, who does not have a seat on the board but controls 27pc of the club's holding company.

However, Usmanov today told Bloomberg: "I'm not going to sell my stake. I love Arsenal, that's why I'm a shareholder."

Press Association

Promoted Links

Sport Newsletter

The best sport action straight to your inbox every morning.

Promoted Links

Editor's Choice

Also in Sport