Russian billionaire steel magnate Alisher Usmanov is becoming increasingly frustrated at his treatment by the Arsenal board. Mr Usmanov and his associates feel that they are being treated like any other shareholder. Red and White Holdings.
Russian billionaire steel magnate Alisher Usmanov is becoming increasingly frustrated at his treatment by the Arsenal board. Mr Usmanov and his associates feel that they are being treated like any other shareholder. Red and White Holdings. Mr Usmanov’s vehicle for his Arsenal stake, has declined to comment on whether it had alerted the Takeover Panel to the shares purchase by American sports tycoon Stan Kroenke in March (see earlier story below). Mr Kroenke’s position was strengthened by a strong statement issued by the Arsenal Supporters Trust whose members account for about 3 per cent of shares in the club. They criticised the referral to the Takeover Panel stating, ‘The AST regrets that a shareholder has chosen to involve the Takeover Panel. Their complaint is about protecting shareholder value. We represent Arsenal supporters who own share as custodians of the club. Our primary interest as shareholders is what is good for Arsenal Football Club rather than trying to make money.’ Attention is now focusing on the stance of Lady Nina Bracewell-Smith who holds a 15.9 per cent stake. She is related by marriage to the Carr family, who sold their shares to Stan Kroenke last week. However, events may push her into an alliance with Red and White Holdings.