Alisher Usmanov fails with £1bn bid to buy out Stan Kroenke at Arsenal

• Usmanov owns 30% of Arsenal and Kroenke 67%
• Russian billionaire has said he would spend big at Arsenal

Alisher Usmanov has made a $1.3bn (£1bn) bid for near total control of Arsenal. The Russian billionaire, who holds a 30% stake in the club, indicated to Stan Kroenke, the majority shareholder, that he was willing to pay the sum to buy him out. The approach, made last month, values Arsenal at $2bn.

Yet Kroenke, who owns 67%, after gradually building up his holding since 2007, is unwilling to contemplate the deal. He remains fully committed to the club and, even though Usmanov’s offer would net him a massive profit, he is not minded to sell. Kroenke has long maintained his investment is on behalf of his family for the long term and that he sees it as being for generations.

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