Russian billionaire buys blocking stake in Arsenal
Sunday, 23 September 2007
MOSCOW, Sept 22 (AFP): The future of English Premier League club Arsenal looks bright, according to Russian billionaire Alisher Usmanov who announced Friday he had increased his shareholding in the club.
"I've made a strategic portfolio investment. This position will allow me to have a blocking package of shares and I will calmly wait for the price to increase," Usmanov told the Echo of Moscow radio station, in a transcript provided by the station.
However Usmanov, who has an executive box at Arsenal's Emirates Stadium, said Friday he did not intend "to fight with the club's board of directors".
"On the contrary I have sent them a supportive letter," he said.
"I've made a strategic portfolio investment. This position will allow me to have a blocking package of shares and I will calmly wait for the price to increase," Usmanov told the Echo of Moscow radio station, in a transcript provided by the station.
However Usmanov, who has an executive box at Arsenal's Emirates Stadium, said Friday he did not intend "to fight with the club's board of directors".
"On the contrary I have sent them a supportive letter," he said.