Dein sells Gunners shares
30 Aug 2007 - 17:33:48
Former vice-chairman David Dein has sold his 14.5 per cent stake in Arsenal to a company co-owned by Russian billionaire Alisher Usmanov for £75million.
Dein, who stepped down in April following a disagreement with the board over a possible takeover bid, has sold his shares to Usmanov and London-based investor Farhad Moshiri's Red and White Holdings Ltd company.
Usmanov is reportedly the 28th richest man in Russia, whose business interests include media holdings and mining companies.
However, Dein seems unlikely to end his 14-year association with the club for too long after revealing he hoped to 'play an active role in Arsenal again'.
Dein intends to become the chairman of Red and White Holdings and, although insisting there is no "current intention" to try to take over the entire club, will seek a meeting with the current board.
"Today's announcement marks a significant step towards realising the vision I share with thousands of fans at home and abroad of making Arsenal the world's number one football club," said Dein.
"I have not lost my passion for the club, indeed, it is greater than ever. My ambition remains to play an active role in Arsenal again.
"My immediate intention is to work with others to provide the financial resources necessary to turn the vision of Arsenal as the world's number one club into reality."