A game of two halves

3 September 2007 By Una Galani Follow @ugalani

But the Gunners might have a stronger takeover defence than their rivals. Arsenal already has a good business model and a brand new stadium. Arsenal is the last of the English Elite not yet owned by rich foreigners. Alisher Usmanov is 15% of the way to changing that.

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A firm coowned by Russian billionaire Alisher Usmanov has bought a 14.6% stake in UK football club Arsenal from former vicechairman David Dein for £75m. The transaction was made through Red & White Holdings Ltd, which said it wanted to up its stake and would approach the board shortly but had no immediate plans for a full buyout.

Dein, who was also named as chairman of Red & White said: We believe in order to remain competitive…. Arsenal will require access to significant funding. A growing number of clubs are being funded by individuals or consortia that are prepared to invest previously unimaginable sums of money aimed at winning the game's biggest prices.

Earlier this year, US billionaire Stan Kroenke bought 10% of Arsenal and has subsequently increased his holding to 12.2%. Neither Red & White nor Kroenke are understood to be interested in a hostile takeover. Arsenal board, whose members own 45.5% of the club, have in the past opposed a sale.

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