Usmanov admits he is keen on Arsenal takeover

Alisher Usmanov finally has come clean and admitted that he one day wants to run English Arsenal.

Usmanov, who holds 23 percent of the club's shares, originally indicated that he only wanted to raise his stake to 25 percent, 1 percent more than lead shareholder Danny Fiszman.

Now, he's doing a reversal on that stance, admitting a takeover can't be done right now, but maybe down the road. But, if the price is reachable and the other top shareholders agree to sell, Usmanov would jump at the opportunity.

However, Fiszman and fellow board members Peter Hill-Wood, Nina Bracewell-Smith and Richard Carr – with 45 percent of the club's shares among them – have agreed to hold off on selling any of their shares through at least April.

The board wields enough power right now that Usmanov can't bring former club vice-chairman David Dein back into the club. Dein was frozen out by the club's board and run off after encouraging U.S. billionaire Stan Kroenke to buy into the club.

When Usmanov bought Dein's 14.5-percent stake for GBP 7.5 billion, he made Deon a non-executive chairman of the investment company Red & White Holdings.

"From our side, we will try to convince David to be less hostile to the board," Usmanov said. "I don't want to be hostile. What we heard about David Dein and the board at the outset of our Arsenal adventure, and what we see now are two different pictures.

"We are now thinking about how not to end up between a rock and a hard place.

"You should realise he has achieved full market value from his shares from us and as a mark of respect for what he has done for Arsenal he is chairman of Red & White Holdings. He says Arsenal is his life – he's lived Arsenal and wants to continue to. But we won't be held hostage to any hostilities between him and the board."

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.