Billionaire Usmanov made $1.3 billion offer for control of Arsenal

Billionaire Usmanov made $1.3 billion offer for control of Arsenal

Billionaire Usmanov made $1.3 billion offer for control of Arsenal

The 63-year-old now owns 30 per cent of the club through Red & White Holdings and has made a move to wrestle a further 67 per cent away from majority shareholder Stan Kroenke.

Kroenke has, according to the Daily Telegraph, reportedly rejected Usmanov's offer but the bid remains on the table with the Russian effectively having offered the full value of the club for a 67% stake.

The club is in a vulnerable position, as is Stan Kroenke and Alisher Usmanov has identified this.

The Financial Times quotes a source as saying: "Two weeks ago, I thought something could realistically happen". In an interview with Bloomberg last month, Usmanov said the blame for the club's performance should not rest exclusively with Wenger, but also with Kroenke and the board, from which Mr Usmanov is excluded.

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Wenger added: "We had plenty of shots on goal, but we needed to be patient". "When you play football, you do not count how many people are sitting in the stand".

Wenger said his future won't be settled until a board meeting is held after Arsenal plays Chelsea in the FA Cup final on May 27.

Kroenke's stance on Arsene Wenger's continued stewardship is unwavering, however with reports CEO Ivan Gazidis has suggested changes need to be made, might Kroenke yet be forced out of the club? Wenger said in March that he would announce his decision "very soon" but has since pushed it back until the end of the season.

Alisher Usmanov owns a 30% stake in Arsenal.

"I do not think that the coach alone is to be blamed for what is happening", Usmanov said.

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Since Slaven Bilic took over as West Ham manager in the summer of 2015, the Hammers have lost a league-high 41 points from winning positions.

Usmanov owns a 30% stake in Arsenal but has no control over the running of the club and has been denied a place on the club's board.

The fifth-placed Gunners face missing out on Champions League football next term.

"All the responsibility for the fate of the club rests with the main shareholder", Usmanov told Bloomberg.

But Usmanov now has no power to help salvage the club. Usmanov on the other hand is anticipated to have twice the wealth of the American businessman, an opportunity that Arsenal fans would surely desire at the club right now.

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The Sun have contacted Arsenal for comment and are waiting for a response.

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