Usmanov increases stake in Gunners
Usmanov now owns over 25% of Arsenal
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Monday, 16, Feb 2009 09:08
The investment company owned by Russian metal magnate Alisher Usmanov has increased its holdings in Arsenal to over 25%.
The accumulation of shares by Usmanov’s company, Red and White Holdings, has not been welcomed by Arsenal fans, or by the Gunners board who not yet offered the billionaire a seat on the board.
Red and Holdings are the north London club’s majority shareholders, with Danny Fiszman owning 24.11%.
US businessman Stan Kroenke own a further 12.4% of the club.
"We are pleased to have now secured over a quarter of the shares at Arsenal," a statement on behalf of Red and White Holdings confirmed this afternoon.
"We are committed long-term investors and supporters of the club and are comfortable that we are now in a protected position.
"We also welcome the strengthening of the squad and look forward to a successful conclusion to the season."
Though Usmanov’s exact holdings are not yet known he would have to make an outright bid for the club should his stake reach 30%.