Russian billionaire Alisher Usmanov, the company fronted by former Arsenal vice-chairman David Dein, has increased his stake in the Premier League outfit to become the club’s second largest shareholder.
Red and White Holdings Ltd, which is co-owned by Usmanov and business partner Farhad Moshiri, now own 21%, with Danny Fizman holding 24%.
Arsenal chairman Peter Hill-Wood reiterated the board’s stance by confirming that the major shareholders had no intention of selling their stakes.
“The major shareholders have no intention of selling and wouldn’t welcome an offer,” Hill-Wood told the BBC.
Usmanov first bought into Arsenal in August when he paid Dein around £75m for his 14.65% holding.
Dein left the club in April over differences with the board over investment possibilities, with American businessman Stan Kroenke’s potential involvement thought to be the main bone of contention.
But Dein is now the chairman of Red and White Holdings and looks certain to remain a key figure as the debate over Arsenal’s future continues.
The club release their financial results next Monday, with the move to the Emirates Stadium expected to have helped them cut the gap in revenue
between themselves and Premier League rivals Manchester United and Chelsea.