Russian billionaire Alisher Usmanov is to increase his stake in Arsenal to 25 per cent.
That is commonly known as a blocking stake as it means that Usmanov would be able to veto any special resolutions made by the club.
The current Arsenal board has declared that the move is not particularly worrying for them, as there have been only two special resolutions in the last 15 years.
However, the bigger problem may be a fear that Usmanov is planning to launch a takeover bid.
His firm, Red & White Holdings, has reassured the Arsenal board that it has no intention of launching a hostile takeover and Usmanov has so far failed to detail what his future intentions are.
"We will raise our stake to a blocking stake. We have announced that our company will buy up to 25 per cent. We do not have any other plans," he said.
Usmanov's Red & White Holdings company is headed by former Arsenal vice-chairman David Dein.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
