MAIN MAN ... Russian billionaire Alisher Usmanov
has the Gunners in his sights
Usmanov has steadily been gaining power at the Emirates, taking
his initial purchase of 14.58 per cent in 2007 to 25.1 this
year.
Now he is ready to buy another chunk of the club from former
board member Lady Nina Bracewell-Smith.
If successful, that will take him well over the 29.9 per cent
mark and, under Stock Exchange rules, trigger an automatic takeover
bid.
A source close to the Gunners confirmed: "This has been on the
cards for some time. "Mr Usmanov has gradually been acquiring
additional shares and now there is the chance to buy a very hefty
and significant amount. "The Arsenal board will want to resist a
takeover so there are some interesting times ahead."
SunSport understands Lady Bracewell-Smith is ready to sell her
15.9 per cent stake. If she dealt with Usmanov, that would make him
the Gunners' biggest shareholder with 41 per cent.
Arsenal's other major investors are Stan Kroenke (28.58) and
Danny Fiszman (16.1). Lady Bracewell-Smith has been considering her
options since December when she was ousted from the board by
Arsenal chairman Peter Hill-Wood and Fiszman. Her shares are key in
the growing battle for control being fought by Fiszman, Usmanov and
his company Red & White Holdings and American sports tycoon
Kroenke.
Lady Bracewell-Smith is also thought to have received overtures
from a second Russian businessman interested in investing in
Premier League soccer. But the main focus remains on Usmanov and
Kroenke.
Both were introduced to Arsenal in 2007 by former vice-chairman
David Dein and have raced each other to buy up shares. Usmanov has
been operating outside of the club, while Kroenke has been embraced
by the board.
An ugly fight is forecast with Fiszman and Kroenke tipped to
resist any takeover. Recent Arsenal shares have exchanged hands at
£8,500 each and Lady Bracewell-Smith can expect to receive around
£100m for her stake.
But neither Fiszman or Kroenke want to sell and they certainly
will not accept the going rate, so Usmanov will have to dig
deep.
Usmanov, 55, made his fortune as a metal and mining mogul and
has a reputation for being a hardman even among Russia's
oligarchs.
Before investing in Arsenal his only previous involvement in
sport came as president of the Russian and European fencing
associations.
Red & White Holdings declined to comment. But Gunners chief
executive Ivan Gazidis said: "The club has a very clear philosophy
which is that it is bigger than any single owner."
He do look like my boss. Very arrogant one.
