Alisher Usmanov launches £1billion bid to buy Arsenal

Alisher Usmanov launches £1billion bid to buy Arsenal

Alisher Usmanov launches £1billion bid to buy Arsenal

News of the bid was revealed by The Financial Times with sources confirming to Telegraph Sport that an offer had been made with Usmanov arguing that he has already demonstrated he has the long-term interests of the club at heart and, crucially, is willing to invest heavily to make it more competitive again on the pitch. But the timing of the move and the leak is significant, ahead of what is set to be an weekend of soul-searching and protest among Arsenal fans if - as expected - the club's 19 consecutive years of Champions League football comes to an end.

How Usmanov would account for any potential purchase and future expenditure remains to be seen, but these questions - and many more - need to be answered him since it's very clear Kroenke has left the door slightly ajar to a bigger, historic counter-offer, something Usmanov clearly has the funds and appetite for.

Usmanov has been a shareholder at the Premier League club since 2007 and upped his stake from 14.6 per cent to 30 when he bought out Farhad Moshiri in 2016. "Now I am not so sure".

The approach reignites the bitter feud between the two men over the direction of the club.

Kroenke is yet to respond to the letter, which was sent last month, but is thought to be unwilling to sell.

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Usmanov has become increasingly concerned about a lack of investment by Kroenke.

The 63-year-old now owns 30 per cent of the club through Red & White Holdings and has made a move to wrestle a further 67 per cent away from majority shareholder Stan Kroenke. The Uzbek-born Russian is of the view that the owner isn't investing enough in the squad, and recently blamed Kroenke, along with the Arsenal board, for the club's recent failures. Kroenke has turned down bids from Usmanov in the past, with his own intentions to one day buy out the Russian's share and have full ownership over Arsenal. He has no plans to dispose of his stake.

The post Alisher Usmanov makes bid Arsenal takeover appeared first on The Nation Nigeria.

Usmanov increased his stake to 30 per cent past year, buying out Moshiri, who went on to buy Everton.

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