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Arsenal Investor Usmanov Has More Than 30% Stake in Soccer Team

Oct. 17 (Bloomberg) -- Russian billionaire Alisher Usmanov increased his stake in English soccer team Arsenal to more than 30 percent.

Usmanov announced his holding in the north London club today in a Regulatory News Service statement. His spokesman, Rollo Head, was unavailable to comment on the purchase.

Usmanov, using his Red and White Holdings Ltd., had around 29 percent before the latest purchase. He is vying for influence at the club with Stan Kroenke, an American who also owns the National Football League’s St. Louis Rams. Kroenke took control of the soccer club in 2011 after acquiring stakes owned by two former board members. Kroenke holds a stake of about 67 percent.

Usmanov and his partner Farhad Moshiri, who together control Red & White, have said they want to boost their holding and criticized the team’s board for its financial decisions after captain Robin van Persie left for Manchester United last year. He was the Premier League’s leading scorer last season and helped United win the title.

Arsenal is atop the league after seven games this season.

To contact the reporter on this story: Christopher Elser in London at celser@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

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