| Updated:
Usmanov snubs Kroenke bid for full Arsenal buyout
ARSENAL’S second largest shareholder Alisher Usmanov insists he “loves” the club and will not cave in to would-be owner Stan Kroenke’s attempt to complete a full £731m takeover.
Uzbek billionaire Usmanov confirmed yesterday he intends to reject Kroenke’s mandatory offer for his 27 per cent share in the club, as reported by City PM on Tuesday (right).
American sports mogul Kroenke is obliged to bid for all shares after agreeing deals to buy out Danny Fiszman and Lady Nina Bracewell-Smith, which will swell his stake to 63 per cent.
“I’m not going to sell,” said Usmanov. “I love Arsenal, that’s why I’m a shareholder.” Kroenke’s move for control was hastened by the illness of Fiszman who died last night after a battle with throat cancer.