Usmanov continues to buy Arsenal shares despite Kroenke takeover

By David Gold

April 19 – Alisher Usmanov continues to buy shares in Arsenal despite American businessman Stan Kroenke becoming the London side’s majority shareholder and launching a formal takeover bid.

Just over a week ago, Kroenke purchased the shares of Lady Nina-Bracewell Smith and Danny Fiszman, who passed away last Wednesday, taking his shareholding in the club to just under 63 per cent.

Because the American businessman had gone over a 30 per cent threshold he was obliged to submit a formal takeover of the club, who are currently lying second in the Premier League with faint hopes of lifting the title this season.

Usmanov, who possesses 27 per cent of the club’s shares, vowed not to sell to Kroenke despite his hopes of becoming the next owner of the club being dashed.

The Arsenal Supporters’ Trust have publicly insisted that they will not sell their shareholding and encouraged Usmanov’s Red and White Holdings Group to retain their shares, and the Russian tycoon has confirmed that he spent £70,950 ($116,126) on another six shares, demonstrating his intent not to sell to Kroenke.

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