Usmanov Charm Offensive Fails - 08/10/2007

A charm offensive by Russian billonaire Alisher Usmanov designed to win over the Arsenal board and fans seems to have backfired. He aimed to convince fans and directors that he is a passionate fan of the club and not a destabilising influence. In an attempt to show willingness, he has told David Dein to end his hostilities with the Arsenal directors. However, following Usmanov's Moscow press conference last week, the Arsenal board hit back saying his demands for an independent board and dividend payments were unacceptable. His business partner Farhad Moshiri had held a meeting with board members which the club described as constructive. However, the board believes that the progress made at that meeting was undermined by Mr Usmanov's briefing. Sources close to the club pointed out that in Chips Keswick and Lord Harris the club already had independent directors who were not shareholders. Fans are generally supportive of the policy of not paying dividends, allowing any surpluses to be re-invested in the club.

Arsenal chairman Peter Hill-Wood had alluded to Mr Usmanov's allegedly murky background after claims made by Craig Murray, the former UK ambassador to Uzbekistan, on his blog. Usmanov commented, 'People talk about me as an Uzbek businessman involved in narcotics and in a shady regime. It is beyond my dignity to respond to all these allegations.' The metals magnate is not short of spare funds as he bought a £26m art collection at Sotheby's as a gift to the Russian nation. He may also see Arsenal as a trophy purchase, but made it clear that the club would have to pay its own way rather than receiving large sums of money on the model of Chelsea. Although Arsenal is his professed footballing love, he and Mr Moshiri considered bids for Spurs and Liverpool in the last two years. 'If I had an opportunity to buy United, I would stop acting like a fan of Arsenal,' he said in a statement that must have reassuerd Arsenal fans. Although he refuses to be labelled an oligarh to distinguish himself from Roman Abramovich, in some ways the Chelsea owner looks like a class act by comparison.