Usmanov Increases his Stake

Russian billionaire Alisher Usmanov has increased his stake in Arsenal to 23%, a week after saying he wanted at least a 25% holding in the football club. </p>

The purchase is estimated to have cost about &pound;6m, at roughly &pound;10,000 a share.</p>

The deal means his investment company, Red and White Holdings, has upped its holding by around 2%.</p>

Earlier this week, Arsenal's annual financial results to 31 May 2007 showed that income had soared 46% to &pound;200.8m, up from &pound;137.2m a year before.</p>
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The Arsenal board said that the strong results showed that there was no need for a wealthy individual backer, and insisted that it was not about to sell up.</p>

Stake building </p>

Mr Usmanov is a metals magnate with an estimated $5.5bn fortune.</p>

He first bought into Arsenal in August when he paid former vice-chairman David Dein about &pound;75m for his 14.65% holding.</p>

That holding was increased earlier this month when he bought another two tranches of shares.</p>

Last week Russian media reports said that Mr Usmanov now aims to up his share in Arsenal to at least 25% plus one share.</p>

Should Mr Usmanov reach a 30% stake in the club then he would be obliged to make a takeover offer.</p>

The club's financial results showed that its operating profits before player trading and exceptional items was &pound;51.2m, up from &pound;13.7m the previous year. Match income is now &pound;3.1m a game, with total match income over the past year of &pound;90.6m.</p>

However, TV revenues were down on 2005/06, when the club reached the Champions League final, by &pound;10m.</p>

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http://news.bbc.co.uk/1/hi/business/7017710.stm</p>

Hate that Russian twat.</p>

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He wants arsenal badly lol.</p>

I wouldn't sell the team though. hopefully they don't.</p>

 

I would hate to see it fall into foreign hands. I doubt Hill-Wood will let him.</p>

 

<font face="Arial" size="2">yea all the big clubs have become foreign lets keep at least one of the british</font></p>

 

Nah i wouldn't sell it. Seeing as we are Englands Richest club without Foreign Investment there is no need for it at all.</p>

 

Might aswell, I mean everything else about Arsenal is foreign.</p>

 

<font face="Arial" size="2">yeah but hopefully after this they will start to bring in moreenglish talent</font></p>

 

yea really they should, too many foreigners lol (j/k)</p>

 

<font face="Arial" size="2">wasn't there going to be a rule on foreign players but then it got turned down?</font></p>