Usmanov won’t sell his stake in Arsenal FC

Russian billionaire Alisher Usmanov insists he will not sell his stake in Arsenal FC after fellow shareholder Stan Kroenke triggered a mandatory buyout offer for the club. American Kroenke secured a 62.89% controlling share in the club earlier this...

Russian billionaire Alisher Usmanov insists he will not sell his stake in Arsenal FC after fellow shareholder Stan Kroenke triggered a mandatory buyout offer for the club.

American Kroenke secured a 62.89% controlling share in the club earlier this week after agreeing to buy out major shareholders Danny Fiszman (16.1%) and Lady Nina Bracewell-Smith (15.9%) for around £234 million.

By passing the 30% threshold, Kroenke is obliged to make a cash offer for the remaining capital at £11,750 per share.

The club’s total value has been set at £731 million.

Kroenke’s main focus will now be on purchasing the £194 million stake owned by Usmanov, who does not have a seat on the board but controls 27% of the club’s holding company.

However, Usmanov said: “I’m not going to sell my stake. I love Arsenal FC, that’s why I’m a shareholder.”

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