Usmanov firm increase Arsenal stake
Monday 16 February 2009
An investment firm co-owned by billionaire Alisher Usmanov have increased their stake in Arsenal to 25 per cent.
Red and White Holdings first invested in Arsenal two years ago when they bought the 14.65 per cent holding of former vice-chairman David Dein.
The company owned around 24 per cent before making their latest move, which was confirmed in a statement from Arsenal Holdings PLC today.
If the stake was to reach 30 per cent, the company could launch a formal takeover bid.
Arsenal's board of directors have remained steadfast in their determination not to sell out for some time.
Their "lockdown" agreement means no director can sell their holding before April and thereafter must give each other first option.
The situation changed in December, however, when Lady Nina Bracewell-Smith was forced off the board, and her 15.9 per cent holding was consequently freed from the agreement.
A further 12.4 per cent is owned by American businessman Stan Kroenke but he has aligned himself with the directors having accepted a seat on the board.
The other major shareholder is Daniel Fiszman, who owns a 24.11 per cent stake.
Usmanov is a Russian oligarch of Uzbek origins with a fortune of an estimated USD4.5billion.
A statement from Red and White Holdings confirmed the company now held a stake "in excess of 25 per cent" in Arsenal.
It continued: "We are pleased to have now secured over a quarter of the shares of Arsenal.
"We are committed long-term investors and supporters of the club and are comfortable that we are now in a protected position.
"We also welcome the strengthening of the squad and look forward to a successful conclusion to the season."
Look beyond the usual shows for the best festive telly
Geoffrey Macnab does not like the comedian's big screen debut
The battle for control of Stieg Larsson's £30m legacy
Latest in Sport
Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
The worst owner in football? Vincent Tan faces fan backlash as Malky Mackay clings to Cardiff job
Bonuses for goals and top four finish as Luiz Suarez joins Premier League's top three earners
Luis Suarez: Liverpool striker ends exit speculation by signing 'long-term' contract
Transfer news: Tottenham Hotspur - January transfer targets
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'