Arsenal Share-Holder Alisher Usmanov not gunner sell to Stan Kroenke

Posted Thursday, April 14, 2011 by Express.co.uk

Arsenal Share-Holder Alisher Usmanov not gunner sell to Stan Kroenke
ABOVE: Stan Kroenke’s bid to take over Arsenal has hit a major stumbling block

AMERICAN tycoon Stan Kroenke’s bid to take over Arsenal has hit a major stumbling block.

Manager Arsene Wenger and the Gunners board want Kroenke to take full control and bring stability to the club.

But Russian billionaire Alisher Usmanov, is refusing to sell his £198m stake because he loves the club.

Usmanov plans to hold on to his 27 per cent share-holding, despite the fact he would make a big profit.

“I’m not going to sell my stake,” he said. “I love Arsenal, that’s why I’m a shareholder.”

Kroenke triggered a mandatory offer for the whole of Arsenal’s share capital at £11,750 per share after taking his holding to 63 per cent over the weekend.

Usmanov acquired his shares over the past four years at prices ranging from £8,500 to £11,500.

The Arsenal Supporters’ Trust has already voted unanimously to retain the three per cent stake held through its Fanshare scheme.

The fans’ group has also backed Usmanov’s stance.

“AST welcomes Red & White’s commitment to Arsenal and calls on all shareholders to work together,” it said.

Arsenal were last night mourning director Danny Fiszman, who has died from cancer, aged 66.

Fiszman joined the board in 1992, played a key role in the club’s move to the Emirates and this week sold his 16 per cent share to Kroenke.

Chairman Peter Hill-Wood said: “Danny was a visionary director, a gentleman and a true Arsenal fan. We are all deeply saddened by the loss of our dear friend.”