Premier League - Arsenal takeover denied - for now
Eurosport - Tue, 02 Oct 19:35:00 2007
Russian billionaire Alisher Usmanov insists he has no immediate plans to takeover Arsenal - for now.
Usmanov's company Red and White Holdings has increased its stake in the Gunners to 23 per cent, leading to speculation about a buyout by the David Dein-fronted consortium and forcing Arsenal to publicly state their opposition to such a takeover.
"We want to have a large stake in Arsenal," Usmanov told the London Evening Standard. "Up to now we have acquired 23 per cent, maybe we will have to increase that to 25 percent.
"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."
There have been rumours that the Uzbek-born metal magnate may launch a hostile bid for the club, leading to much mudslinging from Arsenal fans questioning the credentials of the man.
"I do not want to set any intentions other than those set by the shareholders," he continued.
"I do not want to buy to sell. I want to be a shareholder in Arsenal. 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."
Regarding accusations from Arsenal chairman Peter Hill-Wood that his past is "murky" - Usmanov once served prison time for alleged corruption in the old USSR, although political imprisonments were commonplace under the Soviet regime and he was pardoned by Mikhail Gorbachev - the latest foreign investor in the Premier League was defiant.
"It is beyond my dignity to respond to the allegations," he declared. "My father worked hard in the Uzbek judicial system and my mother was a wonderful human being.
"These people could not have brought up what one European politician called a gangster and racketeer. I will leave that one to his conscience."
If Usmanov passes the 25 per cent shareholder mark he will be able to veto certain board decisions and may force an aggressive buyout.
Russian billionaire Alisher Usmanov insists he has no immediate plans to takeover Arsenal - for now.
Usmanov's company Red and White Holdings has increased its stake in the Gunners to 23 per cent, leading to speculation about a buyout by the David Dein-fronted consortium and forcing Arsenal to publicly state their opposition to such a takeover.
"We want to have a large stake in Arsenal," Usmanov told the London Evening Standard. "Up to now we have acquired 23 per cent, maybe we will have to increase that to 25 percent.
"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."
There have been rumours that the Uzbek-born metal magnate may launch a hostile bid for the club, leading to much mudslinging from Arsenal fans questioning the credentials of the man.
"I do not want to set any intentions other than those set by the shareholders," he continued.
"I do not want to buy to sell. I want to be a shareholder in Arsenal. 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."
Regarding accusations from Arsenal chairman Peter Hill-Wood that his past is "murky" - Usmanov once served prison time for alleged corruption in the old USSR, although political imprisonments were commonplace under the Soviet regime and he was pardoned by Mikhail Gorbachev - the latest foreign investor in the Premier League was defiant.
"It is beyond my dignity to respond to the allegations," he declared. "My father worked hard in the Uzbek judicial system and my mother was a wonderful human being.
"These people could not have brought up what one European politician called a gangster and racketeer. I will leave that one to his conscience."
If Usmanov passes the 25 per cent shareholder mark he will be able to veto certain board decisions and may force an aggressive buyout.
Labels: football
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