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Alisher Usmanov makes $1.3bn bid to take control of Arsenal FC

Alisher Usmanov makes $1.3bn bid to take control of Arsenal FC”

KSE UK, the holding company for Kroenke, now own 67 per cent of the north London club, compared to Usmanov's 30 per cent, but have no intentions of selling.

He made an offer of $1.3 billion for majority share owner Stan Kroenke's 67% stake, but was turned down by the American. Usmanov - the USA sports mogul, who controls a 67 per cent stake - is striking at Kroenke at the point of greatest weakness.

He remains fully committed to the club and, even though Usmanov's offer would net him a massive profit, he is not minded to sell. In an interview with Bloomberg last month, Usmanov said the blame for the club's performance should not rest exclusively with Wenger, but also with Kroenke and the board, from which Mr Usmanov is excluded.

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Arsenal must beat Everton in their final Premier League fixture of the season, and hope that either Liverpool or Manchester City lose in their own matches, to stand any chance of qualifying for next season's Champions League.

Kroenke is due in London this week and is expected to attend Saturday's FA Cup Final against Chelsea ahead of a board meeting at which Wenger's future is set to be finalised.

"I respect Stan Kroenke a lot".

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"We need an owner like Abramovich, who wants to win".

"Something has to change, whether it is the manager Arsene Wenger or whether it is the board upstairs".

The 67-year-old Frenchman has faced repeated calls to quit and bring to an end an Arsenal reign that started in September 1996 when his current contract expires after the end of this season.

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Usmanov acquired his fortune in the metal industry, and is believed to be concerned by a lack of investment in Arsenal. He's not at fault if we didn't reach the Champions League, it's the technical department who are responsible for that. While Arsenal's full-year revenue of about 350 million pounds is the third-highest in the Premier League, it's about 30 percent less than rival Manchester United, which generates more commercial income from jersey-sponsorship rights and branding.



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