Billionaire Usmanov made $1.3 bln offer for control of Arsenal

Toby Manning
May 20, 2017

The 63-year-old now owns 30 per cent of the club through Red & White Holdings and has made a move to wrestle a further 67 per cent away from majority shareholder Stan Kroenke.

The 61-year-old has reportedly approached Stan Kroenke, the American billionaire who has control at Emirates Stadium thanks to his 67 per cent stake, with an offer that would value the club at $2bn.

The club is in a vulnerable position, as is Stan Kroenke and Alisher Usmanov has identified this.

Last month, Usmanov reignited his war of words with Kroenke after insisting that Arsenal's board must take the blame for the club's current situation.

"Two weeks ago, I thought something could realistically happen".

Embattled coach Arsene Wenger, whose future is under scrutiny after the team's indifferent form, should have a say in picking his own successor, Usmanov said.

How Usmanov would account for any potential purchase and future expenditure remains to be seen, but these questions - and many more - need to be answered him since it's very clear Kroenke has left the door slightly ajar to a bigger, historic counter-offer, something Usmanov clearly has the funds and appetite for. "I can suggest that Wenger himself can prepare a successor".

"Some continuity is needed", Usmanov said in comments reported by Bloomberg last month. While Arsenal's full-year revenue of about 350 million pounds is the third-highest in the Premier League, it's about 30 percent less than rival Manchester United, which generates more commercial income from jersey-sponsorship rights and branding.

Usmanov has not been given a seat on the board and is being kept at arms length by the club.

"All the responsibility for the fate of the club rests with the main shareholder".

The post Usmanov Makes $1.3 Billion Bid To Buy Arsenal appeared first on Complete Sports Nigeria.

He now owns a whopping 30.04% after buying up the shares of Farhad Moshiri, now at Everton, to become the club's second largest stakeholder.

Other reports by VgToday

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