Usmanov ups stake in Arsenal

RUSSIAN-BASED billionaire Alisher Usmanov has again increased his share in Arsenal to over 27 per cent.

The Uzbek oil magnate remains the club’s second largest shareholder behind American Stan Kroenke who, unlike Usmanov, holds a seat on the board. Under the financial rules of the City, were any party to cross the 29.99 per cent takeover threshold, they would be obliged to make a formal offer for the remainder of the shares. Former director Lady Nina Bracewell-Smith put her family’s 15.9 per cent stake up for sale in April, and these latest dealings could be the result of some minor tradings.