Our second largest shareholder announced this week that he will not be selling his shares in Arsenal much to the delight of Arsenal fans. Russian billionare, Alisher Usmanov made it known that he’s not selling his 30% stake to Stan Kroenke who already has the largest share.
The Arsenal Supporters’ Trust has always been against the club being owned by a single person which is exactly what Kroenke is trying to do. Usmanov’s statement affirms his desire to keep his shares at the Emirates.
Should Kroenke end up with all of the shares he could take over the club and would be under no obligation to disclose the finances or many other information around the club meaning the end of Arsenal as we know it.
“In recent days there has been speculation relating to a possible offer for my 30 per cent stake in Arsenal. As part of that I can understand the anxiety that these rumours are causing to the fans as reflected by the Arsenal Supporters’ Trust…”
Usmanov said as quoted by Goal. “In light of this, I would like to be clear that I am not holding any talks with Mr Kroenke about a sale…”
Despite being the second largest shareholder at the club, Usmanov has no seat on the board and has no say in the way it is being run.
Both Usmanov and Kroenke have been trying to buy each other out but have not been successful and it doesn’t look like it will happen any time soon after Usmanov’s announcement.
With little or no investment from either shareholder it looks like our wait for another Premier League title is set to continue.