Usmanov wants more shares of Arsenal

The Russian media reports that Russian billionaire Alisher Usmanov wants to buy a "blocking stake" and increase his English Arsenal shares to 25 percent plus one share.

Red and White Holdings Ltd., which is owned by Usmanov and his business partner Farhad Moshiri, own 21 percent of the club now.

If Usmanov obtains a 30 percent stake in the club then he would have to make a takeover offer.

"I want to be in a position that will allow me a blocking stake and will then wait for it to go up in value," said Usmanov in a live interview on Ekho Moskvy radio, according to Interfax news agency.

"It refers to a stakeholding that would make it difficult for the club to do what it wants," said Harry Philp, of football finance consultants Hermes Sports Partners.

"It is tied up with Arsenal's corporate structure and the fact that there will be certain actions where the club will need a level of shares behind it before it can go ahead."

Usmanov, who made part of his fortune in metals, paid David Dein, approximately GBP 75 million for his 14.65 percent share of Arsenal, last August. He then bought more shares that increased his holdings to 21 percent.

Dein, who is chairman of Red and White Holdings Ltd. and was former vice-chairman of Arsenal, left the club in April concerning investment possibilities, especially with American businessman Stan Kroenke.

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