Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Usmanov Waiting To Devise Arsenal Strategy
Guardian, December 23rd, 2008 12:45PM

MOST READ


Controversial Russian-Uzbek billionaire Alisher Usmanov has said that he has no current plans to increase his stake in Arsenal FC, despite the ousting from the club's board last week of Nina Bracewell-Smith, who owns a 15.9 percent stake in the team. But he is certainly reviewing the situation, and refuses to rule out a future move.

Usmanov, whose Red & White Holdings owns a 24.9 percent stake in Arsenal, said that his London-based partner, Farhad Moshiri, was in talks at Arsenal to investigate "sharp changes" at the club. "What has happened in the last year poses questions," Usmanov said. "When in the space of a year four members of the board of directors are sacked, when the general director whom everybody had praised is changed, we consider that to be a huge matter -- just to sack a major shareholder [Bracewell-Smith] without explanation. Mr. Moshiri is now in London and is trying to find out the reasons for these sharp changes and according to what explanation we get, we will decide our strategy."

The billionaire said he has "not held any negotiations" with Bracewell-Smith about a purchase of her stake. "I haven't seen her and so far she has not announced that she wants to sell. There is no point in discussing something that doesn't exist." Asked if he would like to buy more shares, Usmanov said he was "unlikely to at the moment because I have more important financial matters to deal with. But we have never concealed that we would like to acquire a blocking stake of up to 29.9 percent and nothing prevents us doing that. That's what interests us and, little by little, without hurrying, we are buying up shares from the market."

He could also not rule out attempting to acquire another large stake. "No businessman can say that," he said. "What if after two or three years I'm offered something at a good price? But at the moment I don't want to buy [a large stake], I don't have the means. Nobody has at the moment." He is also disappointed to have been portrayed as a threat to the club. "We have always supported the board of directors and we haven't had an antagonistic attitude towards anyone, so we don't understand why we've been assigned the role of a hostile party."

 

 

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Reports: Messi Close to Barca Pay Raise    
According to reports in Spain, Lionel Messi is close to agreeing a contract extension with Barcelona ...
Scholes Named Man United Assistant Coach     
Paul Scholes on Wednesday was named as an assistant coach to interim Manchester United coach Ryan ...
FIFA Suspends Barca Transfer Sentence    
FIFA on Wednesday temporarily suspended the transfer ban handed to Barcelona for violating its rules regarding ...
Donovan on Moyes     
Landon Donovan on Wednesday sounded off on the news that Manchester United had fired head coach ...
Moyes Speaks Out About United Dismissal     
David Moyes on Wednesday broke his silence after being fired as head coach of Manchester United ...
Simeone: Atleti Tried to Score vs. Chelsea    
Diego Simeone said that in contrast to Chelsea, Atletico Madrid tried to score during the first ...
Mourinho Would Field Weakened Team at Anfield     
Jose Mourinho suggested that Chelsea might have given up on the Premier League title after the ...
Scolari turns criticism back onto the critics    
Brazil coach Luiz Felipe Scolari is shrugging off criticism of several players as tension and excitement ...
Qatar begins down-sizing World Cup plans    
Qatar plans to scale back plans for the World Cup it is scheduled to host in ...
German unions request leniency for late arrival during World Cup    
German union leaders want employers to show leniency towards their soccer-supporting workers by allowing them to ...
>> Section 2 Around the Net Archives