Aug 8, 2018
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Arsenal: Shareholder Alisher Usmanov says he accepts rival Stan Kroenke

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Arsenal: Shareholder Alisher Usmanov says he accepts rival Stan Kroenke

Kroenke (left) refused to promote to Usmanov in Could 2017

Arsenal shareholder Alisher Usmanov says he’ll settle for rival Stan Kroenke’s bid to purchase him out for £550m and take full management of the membership.

American billionaire Kroenke owns 67% of Arsenal by way of his firm KSE and introduced on Tuesday he had made a proposal to purchase up the remainder of the shares.

Usmanov has confirmed he has agreed to half along with his 30% stake within the membership.

“I’ve determined to promote my shares in Arsenal, which might be one of the best soccer membership on the earth,” he stated.

Regardless of his shareholding, Usmanov just isn’t a part of the board or the decision-making at Arsenal.

The metal magnate made a £1bn bid to purchase the Emirates outfit in Could 2017 however this was rejected by Kroenke.

Kroenke’s supply to shareholders values the Gunners at £1.8bn. Buying Usmanov’s shares for £550m means remaining shareholders would be legally obliged to sell theirs to Kroenke.