Usmanov strengthens Arsenal stake

Alisher Usmanov has shown that he's still very much in the running in the battle to acquire Arsenal.  He is thought to have spent around £300,000 on shares in the last week which shows that there are still small pockets of shares out there to buy, although they are getting scarcer and more expensive.  His latest purchases bring his stake closer to 27 per cent rather than 26 per cent, but Stan Kroenke remains the biggest shareholder.

Everything now depends on when and to whom Lady Nina Bracewell-Smith sells her 18 per cent stake.  Given possible changes in capital gains tax, it would make sense to do so before the Budget on June 22nd.  My guess is that they will go to neither Kroenke nor Usmanov, leading to continuing uncertainty about the club's future.   However, if Kroenke or Usmanov do buy them, they would be obliged to make a full bid for the club under stock exchange rules.