Usmanov Increases Arsenal Stake
18th September, 2007
Russian billionaire Alisher Usmanov has increased his stake in Arsenal to 21%, making him the second largest stakeholder at the club. The businessman first bought into the club in August when he paid David Dein around a reported £75m for a 14.65% share. Red and White Holdings Ltd, co-owned by Usmanov and chaired by Dein, now own only 3% less of the club than leading shareholder Danny Fizman.
Despite Arsenal chairman Peter Hill-Wood stating that the club’s major shareholders have no intention of selling their stakes, some have commented that the move is a challenge to the board. David Dein believed that the club needed more money, but now the board of directors can rest happy in their new stadium, with a manager who has just signed a new contract, whilst sitting top of the league. Arsenal are 5/1 to win the Premiership with Betfred.
