Support The Moscow Times!

Russian Billionaire Usmanov Explores Sale of Arsenal FC Stake

Alisher Usmanov / Kremlin.ru

Russian tycoon Alisher Usmanov is exploring a sale of his 30 percent stake in English football club Arsenal, the Financial Times reported.

The Russian billionaire has grown frustrated that the club's majority owner, Stan Kroenke, is unwilling to engage in takeover talks and has given up all hope of acquiring the club outright, the report cited the sources as saying.

Usmanov had previously made a $1.3 billion offer to buy out Kroenke, but Kroenke's KSE (Kroenke Sports & Entertainment) UK Inc said its shares in the Premier League club were not for sale.

Russia's so-called oligarchs who have relocated to London could be under threat as there have been calls to deny them access to their London lifestyles following the poisoning of former Russian double agent Sergei Skripal in Britain.

Usmanov and Roman Abramovich, who owns the Chelsea football club, are the most prominent among the Russian elite living in London.

Arsenal finished a disappointing sixth last season and missed out on a Champions League qualifying spot, with manager Arsene Wenger leaving after almost 22 years at the club. It appointed former Paris Saint-Germain coach Unai Emery as their new manager.

A representative for Usmanov declined to comment. Arsenal was not immediately available to comment. 

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more