(February 17, 2009): Controversial Uzbek Businessman Raises Interest in Arsenal to 25 Percent

Alisher Usmanov, an Uzbek businessman of dubious repute (see September 2, 2007), increases his interest in Arsenal, an English Premier League football club in North London. Red & White Holdings, of which Usmanov is a co-owner, raises its shareholding to 25 percent, which gives it a veto over major decisions. The company, run by former Arsenal vice chairman David Dein, first bought an interest in Arsenal in 2007 (see Shortly Before August 31, 2007). Red & White Holdings is now the largest shareholder in Arsenal, followed by Danny Fiszman (24.11 percent), Nina Bracewell-Smith (15.9 percent), and Stan Kroenke (12.4 percent). Shares in Arsenal are currently changing hands for around £7,500, down from their peak of around £10,500 a year and a half ago. If Usmanov’s interest reaches 30 percent, he will be mandated to launch a takeover bid under Stock Exchange rules. [Times (London), 2/17/2009]