Majority shareholder Stan Kroenke is looking to further strengthen his grip on Arsenal Football Club by buying Alisher Usmanov’s shares, according to the Guardian.
The report claims that Kroenke has lodged a huge bid worth in the region of £525m as he looks to buy out Usmanov’s current share, which amounts to 30.4%.
Kroenke is currently the club’s largest shareholder and owns a huge 67% of the club. However, if his attempts to buy Usmanov’s shares in the club work, he will have almost total ownership of Arsenal Football Club. If his bid is successful, Kroenke will be responsible for a whopping 97.4%.
Usmanov has made efforts over recent times to jump ahead of Kroenke as Arsenal’s majority shareholder, only for the American to rebuff his attempts.
Kroenke’s bid is sure to be a tempting one for Usmanov, who is already without a place on the board and holds little influence in terms of decisions within the club.
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