17 October 2007  Home Username Password Register now Lost Password? Event Date Rugby World Cup 2007 07/09/2007 IAAF World Cup, Stuttgart 22/09/2007 Special Olympics World Summer Games, Shanghai 2007 02/10/2007 Asian Indoor Games 2007 26/10/2007 UEFA Euro 2008, Austria-Switzerland 07/06/2008 Summer Olympic Games, Beijing 08/08/2008  Usmanov increases Arsenal stake  18/09/2007 Russian billionaire Alisher Usmanov has upped his stake in Arsenal to become the club's second largest shareholder. Red and White Holdings Ltd, which is co-owned by Usmanov and business partner Farhad Moshiri, now have 21%, with Danny Fizman possessing 24%. Arsenal chairman Peter Hill-Wood has said the club's major shareholders have no intention of selling their stakes. Usmanov first bought into Arsenal in August when he paid David Dein around £75m for his 14.65% holding. Former vice-chairman Dein left the club in April over differences with the board over investment possibilities, with American businessman Stan Kroenke's potential involvement thought to be the main sticking point. But Dein is now the chairman of Red and White Holdings and looks certain to remain a key figure as the debate over Arsenal's future continues. BBC sports editor Mihir Bose says this latest move, announced to the Stock Exchange on Tuesday morning, is significant. "This is quite clearly a challenge to the board, which has said it's not going to sell," he said. "They (the board of directors) have an agreement amongst themselves until next April - they are not going to sell and they do not need any foreign investment. "David Dein believes Arsenal need more money whereas the existing board says they have moved to a new stadium, they are doing very well, they are top of the league and they have got the best manager probably in the country, so why do they need any more money?" The club release their financial results next Monday, with the move to the Emirates Stadium expected to have helped them cut the gap between themselves and the likes of Premier League rivals Manchester United and Chelsea. Arsenal chairman Hill-Wood has said he is willing to talk to Usmanov about any proposals he may have for the club but is adamant the current board will not sell the Gunners. "The major shareholders have no intention of selling and wouldn't welcome an offer," Hill-Wood told the BBC. (Source: BBC.co.uk) Back  Home   Organising Committees and Sports Bodies    Sports Industry Providers & Suppliers Directory    Sports Jobs   Recruiters   Tenders   Sports News   Raising Volunteers   Links   Advertise With Us   About Us   Contact Us     All logos and trademarks in this site are property of their respective owners. All the rest copyright © 2007 Sports City. All rights reserved.