AFC1986
09-18-2007, 02:14 PM
http://newsimg.bbc.co.uk/media/images/44123000/jpg/_44123047_usmanov203.jpg
Usmanov bought an initial 14.65% holding last month
Russian billionaire Alisher Usmanov has upped his stake in Arsenal to become the club's second largest shareholder.
Red and White Holdings Ltd, which is co-owned by Usmanov and business partner Farhad Moshiri, now have 21%, with Danny Fizman possessing 24%.
Arsenal chairman Peter Hill-Wood has said the club's major shareholders have no intention of selling their stakes.
Usmanov first bought into Arsenal in August when he paid David Dein around £75m for his 14.65% holding.
Former vice-chairman Dein left the club in April over differences with the board over investment possibilities, with American businessman Stan Kroenke's potential involvement thought to be the main sticking point.
But Dein is now the chairman of Red and White Holdings and looks certain to remain a key figure as the debate over Arsenal's future continues.
BBC sports editor Mihir Bose says this latest move, announced to the Stock Exchange on Tuesday morning, is significant.
"This is quite clearly a challenge to the board, which has said it's not going to sell," he said.
"They (the board of directors) have an agreement amongst themselves until next April - they are not going to sell and they do not need any foreign investment.
"David Dein believes Arsenal need more money whereas the existing board says they have moved to a new stadium, they are doing very well, they are top of the league and they have got the best manager probably in the country, so why do they need any more money?"
Arsenal manager Arsene Wenger added that the latest development would have no affect on his position.
"I'm responsible for the results at the club and not for the rest," said the Frenchman.
Asrenal release their financial results next Monday, with the move to the Emirates Stadium expected to have helped them cut the gap between themselves and the likes of Premier League rivals Manchester United and Chelsea.
Gunners chairman Hill-Wood has said he is willing to talk to Usmanov about any proposals he may have for the club but is adamant the current board will not sell up.
"The major shareholders have no intention of selling and wouldn't welcome an offer," Hill-Wood told the BBC.
credit: bbc sport
i think the board should at least consider selling the club as it would bring in enough finances to compete with man united, liverpool and chelsea as at the moment we a long way behind all 3 in terms of spending power
Usmanov bought an initial 14.65% holding last month
Russian billionaire Alisher Usmanov has upped his stake in Arsenal to become the club's second largest shareholder.
Red and White Holdings Ltd, which is co-owned by Usmanov and business partner Farhad Moshiri, now have 21%, with Danny Fizman possessing 24%.
Arsenal chairman Peter Hill-Wood has said the club's major shareholders have no intention of selling their stakes.
Usmanov first bought into Arsenal in August when he paid David Dein around £75m for his 14.65% holding.
Former vice-chairman Dein left the club in April over differences with the board over investment possibilities, with American businessman Stan Kroenke's potential involvement thought to be the main sticking point.
But Dein is now the chairman of Red and White Holdings and looks certain to remain a key figure as the debate over Arsenal's future continues.
BBC sports editor Mihir Bose says this latest move, announced to the Stock Exchange on Tuesday morning, is significant.
"This is quite clearly a challenge to the board, which has said it's not going to sell," he said.
"They (the board of directors) have an agreement amongst themselves until next April - they are not going to sell and they do not need any foreign investment.
"David Dein believes Arsenal need more money whereas the existing board says they have moved to a new stadium, they are doing very well, they are top of the league and they have got the best manager probably in the country, so why do they need any more money?"
Arsenal manager Arsene Wenger added that the latest development would have no affect on his position.
"I'm responsible for the results at the club and not for the rest," said the Frenchman.
Asrenal release their financial results next Monday, with the move to the Emirates Stadium expected to have helped them cut the gap between themselves and the likes of Premier League rivals Manchester United and Chelsea.
Gunners chairman Hill-Wood has said he is willing to talk to Usmanov about any proposals he may have for the club but is adamant the current board will not sell up.
"The major shareholders have no intention of selling and wouldn't welcome an offer," Hill-Wood told the BBC.
credit: bbc sport
i think the board should at least consider selling the club as it would bring in enough finances to compete with man united, liverpool and chelsea as at the moment we a long way behind all 3 in terms of spending power