Usmanov ups Gunners stake
18 Sep 2007 - 08:51:36
Russian billionaire Alisher Usmanov has increased his stake in Arsenal to 21 per cent.
The Stock Exchange confirmed on Tuesday morning that Usmanov's investment company, Red and White Holdings Limited, had raised their shareholding in the club.
Usmanov's company is now the second-highest shareholder in the Gunners behind Danny Fiszman, who has 24 per cent.
Usmanov first bought into Arsenal when he paid David Dein, the former vice-chairman, around £75million for his 14.65 per cent holding in August.
Dein - who left the club in April over differences with the Arsenal board over investment possibilities - is the chairman of Red and White Holdings Ltd.
Usmanov values the club at over £500million, but added to Arsenal's outstanding debt on the Emirates Stadium, a buy-out would cost over £800million.
