Stan Kroenke has made an offer to buy Alisher Usmanov’s shareholding in Premier League club Arsenal, a bid which is currently considered by the Russian business magnate.
In May, the Financial Times claimed that Russian Alisher Usmanov had made an offer to buy Stan Kroenke’s shares in Arsenal.
The Russian billionaire, who currently has a 30.04% stake, submitted a £1.3bn bid which the American turned down, reaffirming his interest to maintain his own 67% shareholding in the North London club.
Now, British tabloids are reporting that Kroenke approached Usmanov two weeks ago with an offer to buy his shares, a move which would give hand him more than 97% of Arsenal shares.
The two Billionaire’s are not friendly, but the Russian knows he lose his seat on the Arsenal board or any influence at the Emirates club while the American remain in charge.
His former partner Farhad Moshiri, bought a 49.9% stake in Merseyside giant Everton back in 2016, and his USM Holdings firm put pen to paper on a five year contract to sponsor the Everton’s training ground.
As at press time, the 64 year old has not accepted the offer, and is believed to be requesting for improved terms.
If Usmanov end up selling, Kroenke would have absolute control over the Premier League club, and he can force the remaining minor shareholders to cash in and de-list the shares.