Arsenal minority owner Alisher Usmanov has made a bid of £1 billion to buy out majority shareholder Stan Kroenke, according to reports on Friday.
The Uzbek-born Russian billionaire Usmanov, owns 30 percent of Arsenal and has often been critical of Kroenke, has made the bid to wrest control of the club from Kroenke.
But with the American business entrepreneur showing no interest, the bid has in effect been rejected, though Usmanov is yet to receive a written confirmation.
The Financial Times reported Usmanov made the offer last month, and that Kroenke has yet to formally respond.
Usmanov, who is not part of the board or decision-making at the club, had said in April that Kroenke must “bear huge responsibility” for the club’s failures on the pitch.
“All the responsibility for the fate of the club rests with the main shareholder,” Usmanov told Bloomberg.
Arsenal need other teams (Liverpool or Manchester City) to slip up in Sunday’s final round of matches in the Premier League season to avoid missing out on Champions League qualification for the first time in 21 years.
Arsene Wenger, who has been manager since 1996, has been the target of protests from some of the club’s fans, as the Frenchman’s future at the club will be decided at a board meeting after Arsenal meet Chelsea in 27 May’s FA Cup final.
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