Usmanov bid to buy Arsenal rejected by Kroenke

Gunners decision after cup final

Alisher Usmanov attempted to purchase Stan Kroenke's stake in Arsenal Football Club last month, by means of a letter to the majority owner, for a reported £1 billion, which would have taken the club's valuation to £2 billion and putting the operations of the club to the Uzbekistani oil, gas, and general business magnate, the Financial Times has reported.

Usmanov has been a shareholder at the Premier League club since 2007 and upped his stake from 14.6 per cent to 30 when he bought out Farhad Moshiri in 2016.

Usmanov now owns a 30 per cent stake in the club and has a personal fortune of around £11.2bn. Wenger said in March that he would announce his decision "very soon" but has since pushed it back until the end of the season.

Last month, Usmanov said Kroenke is to blame for the club's recent troubles. With one more round of matches to be played this weekend, Arsenal is poised to finish outside the top four sides for the first time in more than 20 years, denying them a place in Europe's elite Champions League next season. His prioritises are often scrutinised by the fans and media alike, and it's Kroenke's main shareholder rival, Alister Usmanov, who is at the forefront of the attack.

Asensio, Deulofeu and Illarramendi named in Spain squad
Julen Lopetegui, Spanish national coach, has made public the list of players who will be present in the next games of Spain. Manchester United's Juan Mata, who has recently returned to action following groin surgery, again misses out.

Forbes recently estimated Usmanov as the 66th richest man in the world with a net worth at $15.2bn, while listing Kroenke at 182nd with $7.5 billion.

News of the bid was revealed by The Financial Times with sources confirming to Telegraph Sport that an offer had been made with Usmanov arguing that he has already demonstrated he has the long-term interests of the club at heart and, crucially, is willing to invest heavily to make it more competitive again on the pitch.

Usmanov has not been given a seat on the board and is being kept at arms length by the club. Usmanov on the other hand is anticipated to have twice the wealth of the American businessman, an opportunity that Arsenal fans would surely desire at the club right now.

Related News:

  • Oil up after USA inventories drop

    OPEC meets on May 25 and the group's ministers have been talking up the chances of more production cuts. Aramco had previously been maintaining supplies to its important Asian customers.
    Trudeau swats away Super Hornet questions amid Boeing-Bombardier dispute

    Trudeau swats away Super Hornet questions amid Boeing-Bombardier dispute

    Foreign Minister Chrystia Freeland issued the threat in a statement about Boeing's complaint against Bombardier. It claims Bombardier has received more than US$3 billion in government subsidies so far.

    Rogue OPEC member could upset Russian Federation and Saudi Arabia's 'new oil order'

    Oil prices rose on the news , after sinking last week on fears that the supply cuts would not be extended. Oil investors are taking a break as they await further signs that USA oil inventories are falling.
  • FY2018 EPS Estimates for Occidental Petroleum Co. Cut by Analyst (OXY)

    Year to date is -26.02%, -34.06% over the last quarter, -39.33% for the past six months and -42.41% over the last 12 months. Moreover, Miller Howard Ny has 0.16% invested in Occidental Petroleum Corporation (NYSE:OXY) for 118,166 shares.

    Senate wants Comey memo, any White House tapes

    Why would [President Donald] Trump be requesting [former FBI director James] Comey drop the [Michael] Flynn investigation? Speaker, there is a belief in this country that no one is above the law, and that includes the president ".
    Pyongyang accuses Central Intelligence Agency  of biochemical plot to kill Kim Jong Un

    Pyongyang accuses Central Intelligence Agency of biochemical plot to kill Kim Jong Un

    North Korea's Ministry of State Security called the supposed plot a "last-ditch effort" that had gone "beyond the limits". Pyongyang accuses USA and South Korea spy agencies of attempt to assassinate country's leader with biochemical weapons.
  • Syria denies US  accusations of mass executions: 'totally untrue'

    Syria denies US accusations of mass executions: 'totally untrue'

    Beginning in 2013, the Syrian regime modified a building within the Sednaya complex to support what we believe is a crematorium . Syrian activists say a number of rockets struck the opposition-controlled suburb, killing several people.

    Google I/O 2017: Google Assistant Comes to iPhone, Understands Typing, and More

    Used primarily for video playback, the new picture-in-picture feature in Android O is neither a new concept nor special. Android Pay is available in 10 markets, and will soon add Brazil, Canada, Russia, Spain and Taiwan, says Google .

    Syria Moscow says USA coalition strikes on govt forces 'unacceptable'

    But Syria's opposition delegation to Geneva lauded the airstrike, saying it helps curb Iran's influence in his country. Syrian television did not give the number of dead or injured.
  • Is Realty Income Corporation (O) In For Another Earnings Surprise?

    Ny State Common Retirement Fund has invested 0.03% in SL Green Realty Corp (NYSE:SLG). 215,079 are held by Apg Asset Mngmt Nv. The Cornerstone Real Estate Advisers Llc holds 393,920 shares with $10.46 million value, up from 307,427 last quarter.
    'Hero's welcome' for missile developers in North Korea

    'Hero's welcome' for missile developers in North Korea

    Seoul and Washington have argued that the missile system is aimed at North Korean aggression, while China sees it as a threat to its own security.
    NBA Draft Rumors: Lakers to work out Nigel Hayes

    NBA Draft Rumors: Lakers to work out Nigel Hayes

    Dennis Smith came back from a torn ACL and endured a troubled season at NC State but is an explosive offensive talent. They have young, developing stars at nearly every position, especially if they play Ben Simmons at point guard.


Most liked

US veteran charged over deadly Times Square crash
He pleaded guilty last week to harassment in the Bronx after he was accused of pulling a knife on a notary in his home. Police have identified the victim as Alyssa Elsman, a 2016 graduate of Portage Central High School, near Kalamazoo.

Sudan President Will Not Attend Saudi Summit with Trump
The administration earlier this year placed Sudan on its list of seven Muslim-majority nations impacted by Trump's travel ban. The U.S. embassy on Wednesday issued a statement voicing opposition to al-Bashir's planned attendance.

Wisconsin retiree charged in shooting of Amtrak conductor
As for the victim, a GoFundMe page has been set up to help Case and his family pay for his medical expenses . ABC 7 in Chicago reported that the shooter, Edward Klein, is a retired federal law enforcement officer.

Oscars Producer Gear Up For Next Year
The Academy chose to continue working with PwC for next year's Oscars although Cullinan and Ruiz will not return. The Academy was also moving aggressively to bring back Kimmel for a reprise as host.

NAMI Releases Video Series On College And Mental Health
Just one in four people suffering from a long-term mental illness are in work, a report by the federation of trade unions has found.

Android O beta update released by Google
For instance, Photos will notice when you take a shot of a friend and nudge you to send it to her, so you don't forget. Android Go will only be available on phones that run Google's upcoming software version, available next year.

Royal drama splits critics who describe it as 'unmissable' and 'puerile fantasy'
Let's suck it up. "We discovered that if you did too much of that, you didn't give the audience room for their picture of the person", he said.

We need favour from Middlesbrough, Watford to finish in top four - Wenger
Arsenal created numerous chances throughout the game, but initially struggled to find a way past impressive Sunderland goalkeeper Jordan Pickford.

Melania Trump announces first overseas trip as first lady
And he, as his national security adviser put it recently, will call on these Muslim leaders to promote a peaceful vision of Islam. United States officials had warned that acting now could end the President's hopes of reigniting the Middle East peace process.

French president names mix of faces to left-right government
Macron's presidency. "I am not handing over power to a political opponent, it's far simpler", Hollande said on Thursday. Like Macron, France's new prime minister has little truck with the entrenched left-right divide.

Pablo Zabaleta proud of Manchester City career
He made that one chance with Sergio and scored that handsome goal. He has the quality to give that and make the pass. Maybe Aguero will be staying at City after all.

Live Nation Launches First Ever Festival Passport
For $799 (£615), the ticket will allow holders access to events across the globe regardless of if they have sold out. There are limited only 1000 passes up for grabs, so you will need to get one faster than lightning.

Jones targeting Europa final place
The Eagles have already defeated Chelsea and Liverpool on the road and they this is a ideal opportunity to end the barren run at Old Trafford .

G7 finance chiefs vow to unite against cyber crime
Instead of trade, the talks - held in a 12th-century Norman castle - focused on economic growth and inclusion. Mnuchin is taking the opportunity to lay out the Trump administration's views on trade.

Derek Jeter Honored at Yankee Stadium Admits He's 'Nervous' About Fatherhood
He rode to the infield in a golf cart as Frank Sinatra's version of "My Way" was played. "When I came here, Jim Leyritz had it". Former teammates Mariano Rivera , Paul ONeill, Tino Martinez, David Cone and Hideki Matsui also were on hand.