Arsenal takeover looms as Usmanov buys more shares

The power struggle between Stan Kroenke and Alisher Usmanov for control of Arsenal is back on after reports that the Uzbek entrepreneur has decided to up his stake in the Gunners to match his rival's. American sports tycoon Kroenke already has a 29.8 per cent stake in the Gunners, making him the largest shareholder, but Usmanov has reportedly declared his ambition to make a formal £700m takeover offer.

Billionaire Usmanov already owns 27 per cent of Arsenal but reports indicate he wants to increase his stake in the North London club.  "The goal is to increase the holding up to a blocking stake, 29.9 per cent," Usmanov is quoted as saying on the City Am website. "Afterwards, we'll see what to do further. If all the shareholders are united by then like they are now, we'll keep it as that level."

But the Guardian reports that if Usmnanov, who made his money is metal and mining, is successful in raising his stake to 29.9 per cent he still won't be able to 'block' any other parties from seizing control of Arsenal. Rather, he would just be in a better position to rival the authority of Kroenke, who achieved his position of dominance at the Emirates in March 2009 when he bought an additional eight per cent stake in the club from Danny Fiszman. Fiszman, the non-executive director at Arsenal, still has a 16 percent stake, while Lady Nina Bracewell-Smith, is the Gunners' other major shareholder with a 15.9 per cent stake that she put up for sale in April. Her shares remain on the market with Usmanov and Kroenke seemingly biding their time.

"I chose to invest significant money in Arsenal because I consider it to be one the world's most well-structured football clubs, with one of the best stadiums and led by a genius coach, Arsene Wenger," Usmanov said. "I don't regret this investment. It's not dropping in value, it's rising only."

Under Arsenal's rules anyone who owns 30 per cent of the club must launch a takeover bid. Kroenke is thought to be just 20 or so shares away from triggering that clause, and if Usmanov were to inch closer to the line himself then it could make for tense times in the Arsenal boardroom as the two men size each other up, particularly as Bracewell-Smith's shares up for sale.

And as both men are within touching distance of a takeover then if one does show his hand the other is likely to put forward a rival offer.

Neither man was initally welcomed at the Emirates. Club chairman Peter Hill-Wood once said of Kroenke that he did not want "his sort" at the club. But the American, who gained control of the St Louis Rams American NFL franchise earlier this year and now has a controlling stake in five different sports teams in the US, now appears to be the preferred bidder should there be a takeover battle. It emerged last year that the club's directors were so suspicious of Usmanov that they had hired a private detective to investigate him. ·