Russian businessman Alisher Usmanov increases his stake in Arsenal to over 27 percent

Alisher Usmanov(Getty images)

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Russian billionaire Alisher Usmanov has confirmed he has increased his stake in Arsenal to “over 27 percent.”

The Russian oil tycoon’s Red & White Holdings Limited, which he co-owns with business associate Farhad Moshiri, made the announcement yesterday, but have yet to reveal any further information on the deal.

Usmanov, who is Arsenal’s second largest stakeholder behind the American Stan Kroenke, would have to make a formal offer for the remainder of the club’s shares if he were to acquire more than 29.99%.

However, the Russian has previously stated he is not interested in a full takeover of the London side, but this news will spark renewed speculation that the Gunners could follow the likes of Manchester United and Chelsea into foreign ownership.

Usmanov has often called for the club to invest more heavily in new players with the club without a trophy since their 2005 FA Cup triumph, but without a seat on the Arsenal board, he has been unable to convince other investors.

However, having increased his interest in the club, Usmanov could again attempt to push his vision for the club and press for increased investment.