Published: Mon, May 22, 2017
Sport | By Fredrick Flores

Usmanov Makes $1.3 Billion Bid To Buy Arsenal

Usmanov Makes $1.3 Billion Bid To Buy Arsenal

"I do not think that the coach alone is to be blamed for what is happening", he told Bloomberg - adding that the board, and main shareholder (Kroenke) "bear huge responsibility".

On Friday, it was claimed that the Russian oligarch - worth an estimated £11bn - had made the bid to take full control of the Gunners, with Kroenke now owning a 67% share.

'The company is a committed, long-term investor in Arsenal and will remain so'.

Alisher Usmanov, the Russian billionaire who owns more than 30 percent of London's Arsenal Football Club, offered to buy out majority shareholder Stan Kroenke, according to two people with knowledge of the situation.

Manager Arsene Wenger has been the target of most of the criticism for Arsenal's disappointing campaign but fans turned their attention to the owner, singing "Stan Kroenke, get out of our club" during the second half.

The 63-year-old is said to have known that his initial offer would be rejected by Kroenke and hoped that public acknowledgement of his rival doing so would increase pressure on Kroenke by bringing Arsenal fans' support to Usmanov's side.

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Arsenal may have come up short in the Premier League, but could yet win what would be a third FA Cup in four seasons when they take on Chelsea at Wembley on Saturday. The approach, made last month, values Arsenal at $2bn.

'I respect Stan Kroenke a lot.

Yet Kroenke, who owns 67%, after gradually building up his holding since 2007, is unwilling to contemplate the deal. Does Kroenke and Wenger both need to go?

Usmanov, whose investment in Arsenal is through Red & White Holdings, has been denied a place on the board of directors by Kroenke and he has publicly questioned the lack of investment in the squad.

Arsenal will play in the Europa League for the first time next season and missing out on Europe's premier tournament may not sit well with their star players.

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