24/Apr/2014 - Last News Update: 07:00

Arsenal investor Usmanov keeps options open

Category: Business

Published: 14th Apr 2010 10:53:45

Alisher Usmanov, one of Arsenal's largest shareholders, has refused to rule in or out a takeover of the club.

Red & White Holdings, the investment vehicle for the Russian steel magnate, with a 26.3% stake in Arsenal, has said it will keep all options open.

Speculation over ownership of Arsenal has intensified after news emerged that Lady Nina Bracewell-Smith had appointed a firm to sell her 15.9% stake.

Its biggest investor, US billionaire Stan Kroenke could also up his stake.

However, the prospect of the US sports tycoon, increasing his 29.98% stake in Arsenal appeared to diminish on Tuesday when Mr Kroenke said he planned to take full ownership of the St Louis Rams American football team.

He already owns the NBA's Denver Nuggets basketball team, the NHL's Colorado Avalanche hockey team and Major League Soccer's Colorado Rapids.

Multi-ownership

If either Mr Kroenke or Mr Usmanov bought Mrs Bracewell-Smith's stake, it would take them over the 30% threshold which, under City takeover rules, requires them to make a formal offer for the business.

Mr Usmanov's Red & White said it remained a "committed long-term investor".

"At this stage Red & White retains all its options and does not wish for the purposes of the City Code on Takeovers and Mergers to reduce its future flexibility and accordingly no particular course of action is ruled in or out," it said.

Arsenal shares are currently valued at about £10,000 each.

The eventual sale of Mrs Bracewell-Smith's stake is also likely to attract interest from new investors, and the club has long supported a "multi-ownership model".

Arsenal are currently third in the Premier League - with an outside chance of winning the title for the first time since 2004.

Source:
BBC News External Link Show Citation

Latest News

Harvard Citation

BBC News, 2010. Arsenal investor Usmanov keeps options open [Online] (Updated 14th Apr 2010)
Available at: http://www.ukwirednews.com/news/51689/Arsenal-investor-Usmanov-keeps-options-open [Accessed 24th Apr 2014]

News In Other Categories

  • Labour Party seeks to cut links with Co-op Bank

    The Labour Party is looking to sever its links with the troubled Co-op Bank, bringing to an end one of the oldest political partnerships in UK.
  • Qualcomm shares dip on weak outlook

    Shares in Qualcomm, one of the world's biggest chipmakers, fell 5% in after hours trading as it issued a weaker than expected growth outlook.
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
  • Bernie Ecclestone bribery trial begins in Germany

    Formula 1 boss Bernie Ecclestone is set to appear at the start of a trial on bribery charges in Munich.
  • Survey suggests NI disposable incomes rise but less than half UK average

    Disposable income in Northern Ireland households is increasing but is less than half of the UK average, according to an economic consultancy.
  • Elderly care demand to 'outstrip' family supply

    The number of older people in England needing care will "outstrip" the number of family members able to provide it by 2017, a think tank has warned.