Russian billionaire Alisher Usmanov claims he has no plans to raise his stake in Arsenal beyond 25 per cent.
Usmanov, via his Red and White Holdings Limited investment vehicle, raised his stake to 24.2 per cent last week, overtaking the club’s previous highest shareholder Danny Fiszman, who owns 24.11 per cent.
Usmanov has explained that there are plans to increase the stake up to 25 per cent, but not beyond, meaning that Red and White Holdings Limited will hold a blocking stake.
“We will raise our stake to a blocking stake,” Usmanov told a news conference in Moscow.
“We have announced that our company will buy up to 25 percent. We do not have any other plans.”
Meanwhile, Metalloinvest – a company controlled by Usmanov – will sponsor Russian team Dynamo Moscow.
Metalloinvest will sponsor the club for a year, in a deal that is reportedly worth $7million a year.
“For me, Dynamo is a first love,” Usmanov told Dynamo Moscow’s official website.
“The first time I ended up at Dynamo stadium was in 1963 for the match between USSR and Brazil but unfortunately our team lost.”