Russian billionaire Alisher Usmanov says he will not sell his stake in Arsenal after fellow shareholder Stan Kroenke triggered a compulsory buyout offer for the club.
American businessman Kroenke secured a 62.89 per cent controlling share in the club earlier this week after agreeing to buy out rival shareholders for around £234million.
Danny Fiszman (16.1%) and Lady Nina Bracewell-Smith (15.9%) sold their shares to Kroenke and, by passing the 30% threshold, he is obliged to make a cash offer for the remaining shares.
The club’s total value has been set at £731million and Kroenke will be intent on buying the £194million stake owned by Usmanov.
The Russian controls 27% of the club’s holding company, a stake he is not prepared to sell.
Usmanov said: “I’m not going to sell my stake. I love Arsenal,that’s why I’m a shareholder.”