Arsenal shareholder Alisher Usmanov increases personal stake in the club to signal long-term commitment
Arsenal minority shareholder Alisher Usmanov has increased his personal stake in the Premier League club after buying out his business partner Farhad Moshiri.
Billionaire Usmanov, worth $12.7bn (£9.2bn) according to Forbes, now owns 100 per cent of Red & White Holdings which represents 30.04 per cent of shares in Arsenal, after purchasing Moshiri's share.
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The Russian businessman said the move signalled his long-term commitment to the North Londoners.
"“In line with my previously stated objective, I can confirm that I have purchased the whole stake of Farhad Moshiri, thereby increasing my holding in Arsenal to over 30 per cent and securing my position as the second largest shareholder," said Usmanov.
"I am committed to Arsenal and I will proudly retain my holding as a long-term investment for myself and my family to enjoy and benefit for generations to come. I want the absolute best for Arsenal and am prepared to do whatever is necessary to ensure the success of the club.”
The news is unlikely to be welcomed by majority owner Stan Kroenke who fought Usmanov for control of Arsenal in 2011 and is now believed to have plans to keep his 67 per cent stake within his family.