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.

The Arsenal board said that its recent strong financials which registered
£200m in turnover showed that there was no need for a wealthy individual backer,
and insisted that it was not about to sell up.

Usmanov is a metals magnate with an estimated $5.5bn fortune. He first bought
into Arsenal in August when he paid former vice-chairman Dein about £75m for his
14.65% holding.

That holding was increased earlier this month when he bought another two
tranches of shares.

Last week Russian media reports said that Usmanov now aims to up his share in
Arsenal to at least 25% plus one share.
Should Usmanov reach a 30% stake in
the club then he would be obliged to make a takeover offer.