Football: Alisher Usmanov has increased his shareholding in Arsenal
Published: 23 June, 2011
by STEVE BARNETT
UZBEK billionaire Alisher Usmanov has increased his shareholding in Arsenal, taking his stake in the club to almost 30 per cent.
The move follows his pledge not to sell his shares after majority shareholder Stan Kroenke triggered a mandatory buy-out offer in April.
Usmanov’s Red and White Holding company said in a statement: “Red and White announces that it now holds a stake of over 29 per cent in Arsenal Holdings plc.”
American businessman Kroenke’s holding in the north London club currently stands at 66.1 per cent after he secured the stakes of the late Danny Fiszman (16.1 per cent) and Lady Nina Bracewell-Smith (15.9 per cent) for around £234million.
The Premier League approved the takeover last month, prompting Kroenke to give the club’s remaining shareholders 14 days’ notice on his offer to take complete control.
Usmanov, however, insisted he would not sell his shares, declining Kroenke’s offer of £11,750 per share. The Arsenal Supporters’ Trust has also refused to sell.