Yesterday news broke that apparently club shareholder Alisher Usmanov was considering selling his Arsenal shares in order to reinvest his money in another Premier League club. That rumour however has since been denied today by a spokesperson on behalf of Usmanov, who reassured Arsenal fans that the Russian is fully committed to Arsenal Football Club for the long term future.
A spokesperson for Usmanov denied the rumours this morning, with a statement that reads: ‘Contrary to some speculative media reports, Red and White Holdings would like to state that Mr Alisher Usmanov does not intend to sell his stake in Arsenal Holdings Plc (‘Arsenal’). Mr Usmanov continues to be committed to Arsenal and considers his stake in the Club as a long-term investment for his family and future generations.’
It had been reported that Usmanov was becoming frustrated with Arsenal’s lack of progress and that he was considering selling his shares so he could form a partnership with his personal friend Farhad Moshiri, who is currently a major shareholder at Everton.
Usmanov currently owns 30.4% of Arsenal shares in Red and White Holdings but despite having such a high percentage, Usmanov currently has no position on the Arsenal board. Without an official position, Usmanov is unable to have his say on any directing decisions at the club, something which was supposedly frustrating the billionaire.
Usmanov is keen for Arsenal to obviously yield profitable financial results in return of his investment, but more importantly he wants to see Arsenal run as a football club that wins trophies, rather than a business minded organisation solely based around profits. Under his rival and current majority share holder Stan Kroenke, Arsenal have seen their ‘business’ turn more towards saving money and making big bucks for the American, rather than investing the same money into players that will help the team win trophies.
It is promising to hear that despite Usmanov’s likely frustrations surrounding Kroenke, that the Russia Billionaire is not thinking about jumping ship anytime soon. This would be especially bad news for Arsenal fans, given that such a sale would allow an opportunity for Kroenke to buy the club outright, with an ownership of 100% of the club shares.