Russian billionaire Alisher Usmanov has increased his stake in Arsenal to 23%,
fuelling rumours that a takeover offer is moving closer.
The deal means his investment company, Red and White Holdings which is
chaired by former Arsenal vice chairman David Dein, has upped its holding by
The purchase is estimated to have cost about £6m, at roughly £10,000 a share.
Earlier this week, Arsenal's annual financial results to 31 May 2007 showed
that income had soared 46% to £200.8m, up from £137.2m a year before.
Kia Joorabchian, the controversial football agent who brought Argentine striker
Carlos Tevez to the Premiership, has expressed a desire to buy a top-flight
The Iranian businessman was linked with a takeover of West Ham last summer,
to whom he originally sold Tevez, before the London outfit were bought by an
Icelandic consortium headed by Eggert Magnusson.
He stated: ‘If the right club with the right investment opportunity comes up,
we'll look at it. We're still interested in having a Premier League club, but
it's not for the very near future.
Arsenal unveiled impressive financial results in their latest set of figures but
brushed off speculation that the Premier League club was on the verge of a
Latest figures reveal the club's turnover has broken the £200m barrier since
the move to the new Emirates Stadium.
The move to the new stadium from Highbury means Arsenal are now generating
more than £3m a game.
The club’s annual financial results to 31st May 2007 show that income soared
46% to £200.8m, up from £137.2m a year before.
Coca-Cola Championship team Coventry City has confirmed that the club has
received two firm takeover offers with a third expected later this week.
Managing director Paul Fletcher has denied the club faced administration
because of a breakdown in talks with potential investors and revealed that
offers were on the table.
He said: ‘There have been two firm offers made. They are legitimate offers
that are in the long-term interests of the club and we expect a third offer to
come in over the next few days.’
Red and White Holdings, the company owned by Russian billionaire Alisher Usmanov
and run by former Arsenal vice chairman David Dein, has increased its stake in
the Premiership club becoming the second largest shareholder.
Red and White Holdings Ltd, which is co-owned by Usmanov and business partner
Farhad Moshiri, now have 21%, with fellow director Danny Fizman possessing 24%.
Usmanov first bought into Arsenal in August when he paid Dein around £75m for
his 14.65% holding before then appointing the latter as chairman of Red and
McLaren have been hit with a record £49.2m fine and stripped of all their points
in the constructors’ championship as a result of the second hearing by the World
Motor Sport Council into the F1 ‘spying’ row.
While the team’s drivers – Lewis Hamilton and Fernando Alonso – have been
allowed to retain their points in the F1 drivers’ championship, McLaren must
prove that there is no Ferrari ‘intellectual property’ in their cars next year
before they will be allowed to race.
Arsenal chairman Peter Hill-Wood has moved to quash speculation that he is
prepared to sell his stakeholding to Alisher Usmanov stating that he will listen
to the Russian billionaire’s views but would under no circumstances discuss any
Usmanov, who now sits on the Arsenal board after buying the 14.58% stake in
the club from former vice-chairman David Dein, will believed to be eager to take
majority control by increasing his stakeholding.
Manchester United’s US owners the Glazer family have dismissed a report by the
Manchester United Supporters Trust that claims that debts at the club are
spiralling out of control.
Research by the fan group states that the club’s interest payments have risen
to over £100m as a result of the loan the Glazers took out to purchase
The England football team’s recent run of poor results on the pitch has affected
sportswear group Umbro who blamed poor sales of new England replica shirts for
knocking next year's profits.
The group, which also makes shirts for six Premier League clubs including
Everton, West Ham and Wigan, said trading for the current year would be in line
with expectations despite ‘disappointing’ sales of new England shirts during the
key summer trading period.
Formula One duo Flavio Briatore and Bernie Ecclestone have officially confirmed
their £14m takeover offer for London football club Queen’s Park Rangers.
Under the terms of the offer, Renault team boss Briatore and F1 supremo
Ecclestone will pay £1m for the shares in the club whilst taking on £13m of
As part of the deal, the pair will also loan the club £5m much of which will
go towards buying new players.
The Sport Industry Daily
Sign up today for the latest news in one daily email, plus occasional event updates, direct to your inbox.