Stan Kroenke to turn down Alisher Usmanov's bid for Arsenal?

Arsenal's US majority shareholder Stan Kroenke takes his seat before the English Premier League football match between Arsenal and Aston Villa at the Emirates Stadium in London on February 23, 2013
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Arsenal's majority shareholder Stan Kroenke reportedly intends to turn down an alleged $1.3bn (£1bn) offer from fellow shareholder Alisher Usmanov.

Arsenal's majority shareholder Stan Kroenke has reportedly decided to turn down an alleged $1.3bn (£1bn) offer from fellow shareholder Alisher Usmanov.

On Friday, it was claimed that the Russian oligarch - worth an estimated £11bn - had made the bid to take full control of the Gunners, with Kroenke currently owning a 67% share.

However, according to Sky Sports News, Kroenke has no intention of selling up at the Emirates Stadium and is said to be intent on remaining at the club on a long-term basis.

Usmanov's interest in acquiring a larger share at the North London outfit is no secret as he currently plays no part in the decision-making at the club.

American entrepreneur Kroenke has been involved with Arsenal for the past decade, with the 69-year-old taking his stake in the club from 12% to 67% during that time.

Arsenal's Russian shareholder Alisher Usmanov looks on before the English Premier League football match between Tottenham Hotspur and Arsenal at White Hart Lane in north London on March 3, 2013
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