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Usmanov bid to buy Arsenal rejected by Kroenke

Stan Kroenke receives £1 billion offer to sell his stake in Arsenal Stan Kroenke has received an offer to sell his 67% stake in Arsenal
Ramiro Mantilla | 20 May, 2017, 06:25

Arsenal shareholder Alisher Usmanov has made a bid of $1.3bn for Stan Kroenke's 67% stake in the north London club, looking to take over the Premier League giants depsite - or perhaps because of - recent struggles at the Emirates. The person spoke on condition of anonymity to discuss the club's financial matters.

Usmanov acquired his fortune in the metal industry, and is believed to be concerned by a lack of investment in Arsenal.

He (Kroenke) is understood not to have dismissed the idea out of hand at first.

Former Arsenal striker Ian Wright has called on the club's supporters to demand change amid reports of a £1bn takeover bid.

Arsenal are sitting in fifth place in the Premier League and face the prospect of failing to qualify for the Uefa Champions League for the first time in two decades as the season comes to an end on Sunday.

Usmanov's Red and White Holdings has always been shut out of a seat on the Board even though they own 30% of the club, which has long angered the minority owner.

Embattled coach Arsene Wenger, whose future is under scrutiny after the team's indifferent form, should have a say in picking his own successor, Usmanov said. Kroenke has turned down bids from Usmanov in the past, with his own intentions to one day buy out the Russian's share and have full ownership over Arsenal. Kroenke also bought into Arsenal in 2007 and became majority shareholder four years later. The last title came in 2004 and the only silverware since then has been FA Cup successes in 2014 and 2015.

The Toffees' majority owner is Farhad Moshiri, a close business associate of Usmanov's, and speculation has always been high that should Usmanov could make the switch to Everton by buying out Bill Kenwright and the rest of the Board's 50.1% holdings to match Moshiri's 49.9% stake. His prioritises are often scrutinised by the fans and media alike, and it's Kroenke's main shareholder rival, Alister Usmanov, who is at the forefront of the attack.