Alisher Usmanov admits: I do want Arsenal - But I'll wait
Russian-based Uzbek billionaire Alisher Usmanov has said for the first time that he does have long-term ambitions to buy Arsenal, but insists he has no immediate plans to takeover the club. He adds, however, that: "This is business life and things can change."
Billionaire businessman Alisher Usmanov recently raised his stake in Arsenal Football Club to 23 per cent but indicated that he had no plans for a takeover. Now the 54-year-old has revealed that while nothing would happen in the immediate future, he does have long-term ambitions to buy the Gunners.
"We don't have the capacity today, but this is business and life is changing," he said. "Something that you can't do today, maybe you can do tomorrow."
The BBC's Moscow correspondent said Usmanov had been smitten by Arsenal when Arsene Wenger took over as manager in the mid-1990s.
Usmanov described his stake in the club as a "good portfolio investment", but said if other major shareholders agreed to sell out, he would buy their shares if the price was right.
Usmanov holds his stake through Red and White Holdings Limited (RAWHL), the comapany he set up with business partner Farhad Moshiri. It makes him the club's second largest shareholder after Danny Fiszman, who owns just over 24 per cent.
Fiszman and fellow board members Peter Hill-Wood (the club chairman), Lady Nina Bracewell-Smith and Richard Carr have agreed not to sell their shares until April 2008 at the earliest.
Between them those four directors currently account for 45 per cent of the club's shares. Therefore their agreement is pivotal to any takeover bid Usmanov might launch.
Usmanov and Moshiri are hopeful the stance of the four directors will soften in the future.
"If a significant shareholder sells, the whole dynamic changes," said Moshiri.
"But it depends on the price. If the lock-down agreement [by the directors not to sell] is not renewed, then it is a new environment."
Usmanov's comments come a week after Arsenal published their annual financial results to 31 May 2007, which showed income had soared 46 per cent to £200.8 million, up from £137.2 million a year earlier.
Usmanov also told the London Evening Standard: "We want to have a large stake in Arsenal. Up to now we have acquired 23 percent, maybe we will have to increase that to 25 percent." At thast level he would have a blocking vote that would allow him to veto certain decisions.
Usmanov told the newspaper that he was not out to make a quick profit from the £120million he has already spent on his Arsenal shares.
He said: "I do not want to set any intentions other than those set by the shareholders.
"I do not want to buy to sell. I want to be a shareholder in Arsenal.
"I have always been a fan of the club and I could see that as well as getting immense pleasure from the investment, it could also be a useful addition to my portfolio."
Meanwhile, Usmanov has had to contend allegations about his past, and Arsenal chairman Peter Hill-Wood last week described his business background as "murky."
Usmanov retorted: "It is beyond my dignity to respond to the allegations. My father worked hard in the Uzbek judicial system and my mother was a wonderful human being.
"These people could not have brought up what one European politician called a gangster and racketeer. I will leave that one to his conscience."
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