Alisher Usmanov has bought the 50% share of Red & White Holdings Ltd owned by business partner Ardavan Farhad Moshiri, thought to be worth around £200 million.
It means the Uzbek-born billionaire is now the outright owner of the 18,695 shares that make up Red & White’s 30.04% stake in Arsenal.
Interestingly, it looks as though Moshiri’s decision to sell has been driven by a desire to purchase Everton.
The Telegraph report this morning that Moshiri will redirect the funds received from Usmanov to seal a deal for the Merseyside club under the noses of proposed investors from America.
A statement released by Red and White on Friday reads: “Red & White Holdings Limited (“Red & White”) today announces that Mr Alisher Usmanov has purchased Mr Farhad Moshiri’s stake in Red & White and as a result Mr Usmanov now owns 100 per cent of Red & White, which represents 18,695 shares or 30.04% in Arsenal Holdings plc (“Arsenal”).”
In the statement, Usmanov said: “In line with my previously stated objective, I can confirm that I have purchased the whole stake of Farhad Moshiri, thereby increasing my holding in Arsenal to over 30 per cent and securing my position as the second largest shareholder.
“I am committed to Arsenal and I will proudly retain my holding as a long-term investment for myself and my family to enjoy and benefit for generations to come. I want the absolute best for Arsenal and am prepared to do whatever is necessary to ensure the success of the club.”
What does all of the above mean for Arsenal? Well nothing really changes on the boardroom front at the Emirates. Usmanov, who bought David Dein’s chunk of shares in 2007 for around £75 million, still doesn’t have a say on the day-to-day running of the club.