Usmanov To Sell Shares, End Arsenal Interest

Major Arsenal shareholder Alisher Usmanov is reportedly ending his interest in trying to takeover the Gunners.


Alisher Usmanov has apparently been advised not to go ahead with an attempted takeover of the club, and is reportedly ready to sell his shares.

According to the Daily Telegraph, the Uzbek billionaire, who through steady acquisition of shares over the last 18 months or so now owns a 24.9 per cent stake in the North London club, now wants to concentrate exclusively on his steel company, Metalloinvest, which he plans to float on the London Stock Exchange next year.

Usmanov was never popular among Arsenal fans and the news of his proposed withdrawal could please many.

However, the News of the World warns that this does not mean Arsenal have necessarily fended off the threat of a foreign takeover.

The lockdown agreement put in place by the directors expires in April, and board members Danny Fiszman and Lady Nina Bracewell-Smith have reportedly let the City know they would be willing to offload their shares then.

Meanwhile manager Arsene Wenger has made it clear that he will not allow speculation surrounding the ownership of the club to derail his plans for the team, and he is already drawing up a list of players he wants to bid for in the January transfer window.

Arsenal's search for a new chief executive is also continuing, but the club could be on the verge of turning to Peter Varney.

Varney spent 11 years at Charlton Athletic before resigning this summer, and is saiud to be on the short-list to replace Keith Edelman at Ashburton Grove.

A good example set.