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Alisher Usmanov confirms £550m sale of Arsenal shares to Stan Kroenke

Alisher Usmanov confirms £550m sale of Arsenal shares to Stan Kroenke

His 11-year association with the Gunners has come to an end.

Alisher Usmanov confirms £550m sale of Arsenal shares to Stan Kroenke

Arsenal’s majority owner Stan Kroenke has had a bid accepted by the club’s second largest shareholder Alisher Usmanov to complete a full takeover at The Emirates.

Kroenke has offered to buy Usmanov’s 30 per cent stake in a deal that values Arsenal at £1.8 billion and The Telegraph can confirm that Usmanov has already decided to accept these terms.

The Kroenke statement also says that Kroenke Sports Entertainment, a company wholly owned by Kroenke, has received an irrevocable undertaking from Red and White Securities – the company owned by Usmanov – to accept the offer for his 18,685 shares.

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Emma Jones is an entertainment journalist for UKCelebrityNews and other magazines. The author or coauthor of ten books, Emma has sold several million copies since 2006. She worked for eleven years as a writer and editor at the national news biweekly WORLD magazine.

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