Usmanov ups his stake in Arsenal

ALISHER Usmanov, Arsenal’s second largest shareholder, has spent almost £390,000 on upping his stake amid fresh speculation about the club’s future.

The Russian steel magnate bought 37 shares at £10,500 each to increase his shareholding from 26.29 per cent to 26.31 per cent.

It moves him closer to the 30 per cent threshold that would trigger a full takeover bid. Largest shareholder Stan Kroenke has 29.98 per cent.

The purchase comes after Lady Nina Bracewell-Smith made it known her 15.90 per cent stake is for sale.