Usmanov denies takeover

Russian billionaire Alisher Usmanov has denied that he wishes to takeover Arsenal, but insists that he is ready to up his stakeholding to over 25 percent. Red and White holdings currently owns 23 percent.

The Russian billionaire will keep his options open for the future, however.

"We want to have a large stake in Arsenal. Up to now we have acquired 23 per cent, maybe we will have to increase that to 25 per cent," Usmanov told the London Evening Standard.

"We have no intention of bidding for the club but this is business life and things can change. Something we may not be able to do today but we can maybe do tomorrow."

Usmanov has also rejected suggestions he is trying to make a quick profit from his Arsenal shares.

"I do not want to buy to sell. I want to be a shareholder in Arsenal," he added.

"I have always been a fan of the club and I could see that as well as getting immense pleasure from the investment, it could also be a useful addition to my portfolio."