Alisher Usmanov increase his stake in Arsenal to 29%

Alisher Usmanov(Getty images)

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Arsenal shareholder Alisher Usmanov has strengthened his position on the Gunners’ board after increasing his stake in the club to 29%.

After majority shareholder Stan Kroenke increased his stake to 67% in April it had been expected that the American would look to gain overall control of the club, but Usmanov’s 2% increase sends a clear message that he is not ready for that to happen.

The Russian’s Red & White company acquired the new shares from Arsenal Holdings two months after Kroenke’s bid was rejected, Red & White have purchased the shares for £14,000 each which is £2,250 more than Kroenke offered.

Usmanov first got involved with the Gunners in 2007 when he purchased 14.58% of shares from former chairman David Dean for £75 million, and has insisted he will not relinquish his stake in the club despite offers from Kroenke.

The move will be of great interest to the Arsenal supporters trust, who refused to back Kroenke’s takeover because they wanted representation at board level at the Emirates Stadium, and with Usmanov strengthening his position it appears one man controlling the North London club is extremely unlikely in the near future.