Football News

News » Premier League news » Arsenal news

Usmanov: no Arsenal takeover

Usmanov: no Arsenal takeover

Arsenal's majority shareholder Alisher Usmanov has 'no plans' to purchase any more than 25 percent of the club yet, and will not make any formal offer of a takeover for at least another six months.

A statement to the Stock Exchange said: "Red and White is pleased to confirm its previous statement that it has no current intention to make an offer for Arsenal Holdings Plc ('Arsenal') and is committing to this position for a further six months.

"Red and White has the necessary funding to increase its stake further. However, it confirms that it will not acquire a shareholding in Arsenal which would trigger an obligation to make an offer for the shares in Arsenal.

"As the largest shareholder in Arsenal, Red and White is delighted with the excellent results of the club on the field and would encourage all parties to focus on a trophy winning conclusion to the domestic and European campaigns."