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Alisher Usmanov launches £1billion bid to buy Arsenal

20 May 2017, 11:34 | Joan Schultz

Alisher Usmanov launches £1billion bid to buy Arsenal

Alisher Usmanov launches £1billion bid to buy Arsenal

Kroenke has given an informal indication that he's not interested in selling, according to the Financial Times, which earlier reported the offer.

Forbes ranks Usmanov as the 66th richest individual in the world and the fifth richest in Russian Federation, with his net worth having grown by over £2bn in the a year ago alone.

Usmanov, who already owns 30% of Arsenal, is reportedly worth more than £11bn.

Though on this occasion, Kroenke has stood firm and rejected the deal, but it has been said that the offer remains on the table.

Wenger, who has been in charge of the first team since 1996, has yet to commit his future to the club, with his contract set to expire at the end of the current term.

In an interview with Bloomberg last month, he said the blame for the club's performance should not rest exclusively with Arsène Wenger, the manager, but also with Mr Kroenke and the board, from which Mr Usmanov is excluded.

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Arsenal's poor performance has generated frustration among supporters and increased the tensions between fans and Mr Wenger.

Kroenke is yet to respond to the letter, which was sent last month, but is thought to be unwilling to sell.

Demands that Wenger and his protector Kroenke leave the club will escalate if Manchester City and Liverpool secure the draw and win which they respectively need on Sunday to keep the North London club out of the top four.

Usmanov, the metals magnate, has clashed with Kroenke over the direction of the club and he has suggested the club's senior management has to take a firmer line. He is understood not to have dismissed the idea out of hand at first.

He now owns a whopping 30.04% after buying up the shares of Farhad Moshiri, now at Everton, to become the club's second largest stakeholder.

Arsenal are on the brink of failing to qualify for the Champions League which will cost the club around £50 million.



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