Arsenal shareholder buys a bigger stake in the club

ARSENAL major shareholder Alisher Usmanov has increased his stake in the north London football club, boosting his 26 per cent stake.

The Usbek-born mining billionaire, who is the second-largest shareholder in the club, is believed to have spent about £300,000 on shares last week, bringing him closer to owning 27 per cent.

The move comes as Lady Nina Bracewell-Smith, the club’s fourth-biggest investor, is attempting to sell her 16 per cent stake. She has appointed Blackstone for the sale.

According to City rules, Usmanov and Stan Kroenke, Arsenal’s biggest shareholder, would have to make a full bid for the club if they bought her stake.