Alisher Usmanov is willing to sell his stake in Arsenal to any party who shares his vision.GETTY IMAGES
Russian billionaire Alisher Usmanov is "actively exploring a sale of his stake in Arsenal," accepting that the London-based football club's majority owner, U.S. sports mogul Stan Kroenke, "will never sell control to him," according to Ahmed, Massoudi & Jenkins of the FINANCIAL TIMES. Usmanov, who owns 30% of the EPL club, "has grown frustrated" that Kroenke is "unwilling to engage in takeover talks and has given up all hope of acquiring the club outright," according to two sources. A source said of Usmanov, "He was really frustrated that Kroenke wouldn't sell at any price and now just wants out." The decision "marks the beginning of the end of a long-running battle for control over Arsenal," with the club's two biggest shareholders "locked in a bitter feud having repeatedly clashed over the direction of the club." Last October, Usmanov turned down a £525M offer from Kroenke to acquire his shareholding. A few months earlier, it was Usmanov who made a $1.3B bid to acquire Kroenke's 67% stake. Usmanov said that he is "willing to sell to any party" -- other than Kroenke -- who "shares my and undoubtedly the majority of fans' vision for the club." But a person close to Usmanov added that "this is a difficult sales pitch: he does not have a board seat at Arsenal or any say over the running of the club." Any new shareholder is "likely to face the same problems," with Kroenke in "effective control" (FT, 7/24).
'VERY CONCERNED': In London, Giuseppe Muro reported Arsenal fans "fear their club will be run from America" if Usmanov sells his stake to Kroenke. A spokesperson for the Arsenal Supporters' Trust said, "The AST would be very concerned at any outcome that saw the club wholly owned by Stan Kroenke. If he bought Alisher Usmanov's shares, the likelihood is he would take the club private, forcing out the remaining custodian shareholders. ... Arsenal is too important to be owned by any one person and there should be a plurality of ownership, including supporters, involved in the club" (EVENING STANDARD, 7/24).
