Alisher Usmanov fails with £1bn bid to buy out Stan Kroenke at Arsenal

By The Guardian | Fri, 19 May 2017 18:11:20 +0100 | 152

• Usmanov owns 30% of Arsenal and Kroenke 67%• Russian billionaire has clashed with American over Arsenal’s directionAlisher Usmanov has made a €1.3bn (£1bn) bid for near total control of Arsenal. The Russian billionaire, who holds a 30% stake in the club, indicated to Stan Kroenke, the majority shareholder, that he was willing to pay the sum to buy him out. The approach, which was made last month, values Arsenal at €2bn.Yet Kroenke, who owns 67% after gradually building up his holding since 2007, is unwilling to contemplate the deal. He remains fully committed to the club and, even though Usmanov’s offer would net him a massive profit, he is not interested. Related: Arsenal, Liverpool and Manchester City: what missing Champions League would mean Continue reading...