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Alisher Usmanov 'looking to sell 30% stake in Arsenal'

Usmanov 'looking to sell 30% Arsenal stake'
© Reuters
Arsenal shareholder Alisher Usmanov is reportedly looking to sell his 30% stake in the club after giving up hope of buying out Stan Kroenke and taking majority control.

Alisher Usmanov has reportedly decided to sell his 30% stake in Arsenal after giving up hope of taking majority control of the club.

The Uzbekistan-born billionaire has made a number of attempts to buy out majority shareholder Stan Kroenke in the past, but the American turned down a $1.3bn (£991m) offer for his 67% stake in the club.

Kroenke has insisted that his shares in the Premier League outfit are not for sale, and the Financial Times reports that Usmanov has now given up hope of changing his mind.

The metalworks magnate is reportedly actively looking for buyers, but will refuse to sell his stake to Kroenke, who made a £525m offer for his 30% last summer.

Usmanov and Kroenke are understood to have disagreed over the direction of the club in recent years, with Usmanov claiming last summer that his presence was required to "protect the best interest of the fans in the club".

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General view outside The Emirates ahead of the Premier League game between Arsenal and Chelsea on January 3, 2018
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Today's Olympic highlights header

Monday's key events

· Jonny Brownlee will look to make the most of his brother Alistair's absence as he goes for gold in the men's triathlon (10.30pm-1am)

· Team GB get their campaign underway with two matches, against Canada and Japan (from 1.30am)

· One of Team GB's biggest gold medal hopes, Adam Peaty, will take part in the 100m breaststroke final. (3.12am)
· Ariarne Titmus and Katie Ledecky go head to head for gold in the women's 400m freestyle final (3.20am)

· Tom Daley and Matty Lee take part in the men's 10m synchro final (7am-8am)

· The men's team final takes place (11am)

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