Red and White Holdings, the investment company owned by the Russian billionaire Alisher Usmanov, increased its shareholding in Arsenal to over 25 per cent raising the possibility of a formal takeover.
Usmanov – a Russian oligarch of Uzbek origins with a fortune of an estimated $4.5 billion - already owned a 24 per cent share in the club and can make a formal approach to takeover at the Emirates should his share reach 29.9 per cent.
Red and White Holdings first invested in Arsenal two years ago when they bought the 14.65 per cent holding of former vice-chairman David Dein.
“We are pleased to have now secured over a quarter of the shares at Arsenal,” said a statement released on behalf of Red and White.
“We are committed long-term investors and supporters of the club and are comfortable that we are now in a protected position. We also welcome the strengthening of the squad and look forward to a successful conclusion to the season.”
The Arsenal board, led by Danny Fiszman who owns a 24.11 per cent stake, has yet to offer Usmanov a seat on the board but may now be forced to soften its stance.
