Sport Usmanov makes bid to take full control of Arsenal

20:45  19 may  2017
20:45  19 may  2017 Source:   Read Sport

Usmanov in £1bn Arsenal bid

  Usmanov in £1bn Arsenal bid Alisher Usmanov has made a £1bn bid to buy out the majority shareholder at Arsenal, according to Sky sources. It is understood Stan Kroenke has yet to formally respond to the offer, which was initially reported by the Financial Times, but it is expected he will reject it.Usmanov currently owns a stake of just over 30 per cent in the club and has a personal fortune of around £11.2bn.Kroenke, who also owns the NFL's Los Angeles Rams, has been Arsenal's majority shareholder since 2011.The American increased his shareholding - through his company Kroenke Sports Enterprise - to 67.

Alisher Usmanov , the Russian billionaire who owns a minority stake in Arsenal football club, has in recent weeks made a .3bn bid to buy out his rival shareholder in the English Premier League team, according to three people close to the situation.

Stan Kroenke’s bid to take over Arsenal has hit a major stumbling block. Manager Arsene Wenger and the Gunners board want Kroenke to take full control and bring stability to the club. But Russian billionaire Alisher Usmanov , is refusing to sell his £198m stake because he loves the club.

Alisher Usmanov Visits The Turner Bequest © Oli Scarff/Getty Images News Alisher Usmanov Visits The Turner Bequest

Alisher Usmanov, minority stakeholder in Arsenal, has made a $1.3Bn to buy out Stan Kroenke, the Financial Times are reporting.

The Russian Oligarch currently owns a 30% stake in Arsenal but has signalled his intent to take full control of the club, ousting Kroenke in the process.

Arsenal are valued at $2Bn and Usmanov’s offer to Kroenke for his 67% majority stake in the club remains on the table, with the US sports mogul yet to respond.

Kroenke was open to the idea but is believed to have changed his stance and is unwilling to sell to Usmanov or any other interested party.

Usmanov in £1bn Arsenal bid

  Usmanov in £1bn Arsenal bid Alisher Usmanov has made a £1bn bid to buy out the majority shareholder at Arsenal, according to Sky sources. It is understood Stan Kroenke has yet to formally respond to the offer, which was initially reported by the Financial Times, but it is expected he will reject it.Usmanov currently owns a stake of just over 30 per cent in the club and has a personal fortune of around £11.2bn.Kroenke, who also owns the NFL's Los Angeles Rams, has been Arsenal's majority shareholder since 2011.

The Uzbek-born oligarch's offer, made last month, values the club at billion (£1.54billion).

3. Full name of person(s) subject to the notification obligation: Red and White Securities Limited. 46 comments to Usmanov makes a takeover bid for Arsenal . It doesn’t automatically make usmanov to make a take over bid the arsenal board stopped that rule 2 years ago.

“Two weeks ago, I thought something could realistically happen. Now I am not so sure,” a person close to the situation said.

The two figureheads at Arsenal are believed to have been at loggerheads for some time over the direction of the club, and many fans have voiced their displeasure towards Kroenke about where the club are heading under his ownership.

Speaking with Bloomberg lat month, Usmanov openly criticised Kroenke and the Arsenal board by stating the club’s failures this season don’t solely lie at the feet of manager Arsene Wenger but with Kroenke and the board, and the Russian is growing increasingly concerned with the lack of investment.

Arsenal are set to miss out on Champions League football and around £50m in revenue as a result which will hinder the Gunners in the transfer market.

Usmanov first acquired shares in Arsenal in 2007, when he teamed up with Farhad Moshiri to purchase a 14.6% stake for £75m. He increased his stake to 30% last year when he bought out Moshiri’s stake.

While their appears to be no movement on Kroenke’s stance, Usmanov’s intentions are clear and he’s eager to take over Arsenal and take them forward.

Usmanov to meet advisers .
Alisher Usmanov will meet his closest advisers on Wednesday to discuss his options in the battle for control of Arsenal.Alisher Usmanov will meet his closest advisers on Wednesday to discuss his options in the battle to take control of Arsenal.

Source: http://uk.pressfrom.com/news/sport/-159710-usmanov-makes-bid-to-take-full-control-of-arsenal/

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