Arsenal investor Usmanov keeps options open
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.
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.
At 22:00:37 in EnglandThe man cleared of killing PC Keith Blakelock has said he would feel "angry and disappointed at the system" if he was a member of the police officer's family.
At 21:56:43 in BusinessA 19-year-old Canadian became the first person to be arrested in relation to the Heartbleed security breach.
At 21:55:17 in SportGloucester pair Tavis Knoyle and Sila Puafisi have been banned after being sent off during Saturday's 18-17 Premiership defeat at home to Bath.
At 21:54:33 in ScotlandA power cut has left large areas of northern Scotland without electricity.
At 21:51:51 in WalesThe remains of 19th Century country house that was gutted by a blaze more than 30 years ago has been hit by fire again.
At 21:51:03 in BusinessShares in Google have dropped 5% despite the technology giant reporting a first-quarter profit rise of 32%.
At 21:32:10 in EnglandA Royal Marine drowned during a training exercise in a "freak accident" when his boat was hit by a large wave and capsized, an inquest has heard.
At 21:29:58 in BusinessVirgin Media has apologised after some of its customers received hundreds of unwanted emails because of a distribution list error.
At 21:07:07 in SportSouthampton's new chairman says that key players will not be sold to pay off club debts.
At 21:05:39 in EnglandLetters revealing the friendship between the sculptor Henry Moore and his patron Sir Robert Sainsbury are to go on display for the first time.
Harvard CitationBBC 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 16th Apr 2014]
News In Other Categories
Gloucester pair Tavis Knoyle and Sila Puafisi have been banned after being sent off during Saturday's 18-17 Premiership defeat at home to Bath.
Two men arrested after a security alert in County Tyrone on Tuesday have been charged.
A 19-year-old Canadian became the first person to be arrested in relation to the Heartbleed security breach.
The remains of 19th Century country house that was gutted by a blaze more than 30 years ago has been hit by fire again.
The ebb and flow of men's beard fashions may be guided by Darwinian selection, according to a new study.
Men prefer to watch film adaptations of books than read the original novel, according to a new study, which found the opposite is true for women.