HER 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.