Alisher Usmanovs’s Red & White holdings has increased its stake in Arsenal from 28% to 29% it was announced today.
Last week speculation mounted that Usmanov wanted to the cross the 30% threshold to allow him access to company accounts. Although his stake would not allow him any control, nor veto any decisions made by owner Stan Kroenke, it would permit him to publicly scrutinise decisions made by the current board.
At a time when fan dissatisfaction is high, due to on-pitch failure and increased ticket and membership prices, Usmanov is likely to make further statements to win favour with fans. However, like an opposition politician, it’s easy to say the right things when you don’t have to follow up on them.
However, the Arsenal board have made unpopular decisions in recent months and Chief Executive Ivan Gazidis strongly defended price rises at a meeting held by the Arsenal Supporter’s Trust earlier this month. Fans are anxious to see investment in the team and this could go some way to easing frustration ahead of the new season.
Arsenal’s ownership is essentially a dupoly, the much vaunted pluraility of ownership gone by the wayside since Kroenke outmaneuvered the Uzbeki to seal his takeover in April, and while many smaller shareholders remain, the two largest now own 96% of the club.
there is a bit of mischief in the report that usmanov will go over 30% so he can view the club accounts, yes under FAPL rules he would be allowed to, but under stock market rules he would have to launch a takeover bid if he reaches 30%, and if this bid fails he would have to sell shares and go below 30% again, and of course he would not be allowed to view the accounts if he is launching a takeover bid.
Would he really have to sell shares and go below 30%?
Clubs should be owned by the fans and would be if our MPs did a proper job!
its sad like many other Arsenal fans,i helplessly watch the glass of ma creamy milk tilt to the point of a major potential spillage! how did we get this far worse than the champions we were 7yrs ago??…that some fans might cheerfully welcome any seemingly realistic role played by Usmanov is understandable! BTW Late Former Zambian Presdo was a die hard barge-kissing Arsenal fan! RIP Chiluba(Don Chichi-The Master Dribbler)
u ryt man..
You would think for a billionaire he wouldnt have to keep borrowing Frank Butchers bins.
I read that as “the Uzbeki seal” for a second ha!
I would’ve said sign him up..
How many more unsavoury characters do we need linked with the club this week?
First Joey Barton, now this!
Is that one of his doppelgangers behind him ?
[…] as far as it goes with on-pitch matters. Off it, Alisher Usmanov has upped his stake in the club from 28% to 29%, which means the two main shareholders now own 96% of the club. So much for our plurality of […]
[…] Usmanov, who owns 29% of the club, has yet to be invited onto the board and recently spoke scathingly about the actions of the […]