http://soccernet.espn.go.com/news/story?id=770203&sec=england&cc=5901 Arsenal have been valued at close to £1 billion and a stand-off between Uzbek businessman Alisher Usmanov and American sports mogul Stan Kroenke is expected to ensue. Lady Nina Bracewell-Smith wants to sell part or whole of her 15.9% stake, valued at £80 million, and Soccernet has spoken to a city insider close to the club's share dealings. The insider said: "The shares are now worth £10,000 each. That would mean the shares alone would be valued at £650 million, and the club is carrying debt close to £300 million. That puts a price on Arsenal of almost £1 billion. "That is Mickey Mouse money, and that kind of money for a club went out of the window some time ago." Speculation of a takeover bid intensified on Monday as news emerged that Bracewell-Smith, the club's third-largest shareholder, began the process of selling her stake. Bracewell-Smith appointed US group Blackstone to find a buyer for the shares, sparking inevitable reports that Usmanov and Kroenke, who have long been fighting for control of the club, would instantly jump in to buy the shares. But that would trigger a formal takeover bid, and Soccernet's insider does not believe that Kroenke, who is only 10 shares away from the 30% threshold, will make a move. He said: "Kronke is a 'value' investor and he will believe that the price is hugely inflated at £10,000 a share. Usmanov won't buy the stake either and that leaves it as it has been for some time - stalemate. "Of course, Lady Bracewell-Smith could have sold her shares at any time, but I doubt whether there is a buyer. She is possibly just feeling out the market, and might end up doing nothing. Who knows?" Kroenke owns 29.9% of shares, the highest figure allowed by Stock Exchange rules without a takeover bid, and has a place on the board. Usmanov's Red and White Holdings has 26% and he does not have a place on the board. Should anyone other than Kroenke or Usmanov purchase Bracewell-Smith's stake, they would only take a minority interest and might not even be welcomed into the inner sanctum. Bracewell-Smith has often insisted she has no intention of selling her stake, so it is possible that she will sell only a small percentage of her shares, in small proportions, rather than the full stake.
