Usmanov nears 30 per cent stake in Arsenal required to access club accounts

By David Gold

June 20 – Alisher Usmanov has increased his shareholding in Arsenal Football Club to over 29 per cent, his company Red & White Holdings has confirmed in a statement to the London Stock Exchange.

American businessman Stan Kroenke took control of the club in April when he bought the shares belonging to Lady Nina-Bracewell Smith and the late Danny Fizsman.

He owns 66.64 per cent of the shares, but was forced to make a formal offer for the remaining shares in the club after taking his holding to over 30 per cent.

Usmanov though, who owned approximately 26 per cent, refused to sell his stake, and put out an open counter proposal of £14,000 ($22,725) per share, compared to the £11,750 ($19,070) Kroenke offered.

Almost all of the remaining shares in the club belonged to the Arsenal Supporters’ Trust, who owned approximately 10 per cent when Kroenke launched the takeover.

Their overall holding has reduced since to approximately five per cent, and should Usmanov take his holding above the 30 per cent mark, he would be allowed under Premier League rules to have access to the club’s management accounts.

That would mean he would know among other things, the details of the contracts of the club’s playing staff.

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