Finance

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Usmanov ups Arsenal stakeholding again

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 around 2%.

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.

Joorabchian eyeing Premier League club takeover

Kia Joorabchian, the controversial football agent who brought Argentine striker Carlos Tevez to the Premiership, has expressed a desire to buy a top-flight English club.

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 boosted by impressive financials

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 foreign takeover.

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.

Coventry City confirms takeover offers

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.’

Usmanov increases Arsenal stakeholding

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 White Holdings.

McLaren handed record fine in spying row

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.

Hill-Wood denies prospect of Arsenal sale

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 sale.

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.

Glazers deny United debt problems

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 Manchester United.

Umbro hit by poor England replica sales

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.

F1 duo confirm £14m QPR takeover bid

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 QPR’s debts.

As part of the deal, the pair will also loan the club £5m much of which will go towards buying new players.

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