Usmanov increases Arsenal holdings

The company of Alisher Usmanov has confirmed the Uzbek billionaire has increased his shareholding in English Premier League club Arsenal.Usmanov has upped his holdings to over 29 percent, with American Stan Kroenke still the majority shareholder with 66.1 percent.

Usmanov’s company Red & White purchased the shares for 14,000 pounds each – 2,250 pounds more than Kroenke had offered.

“Red & White Securities Limited today announces that it now holds a stake of over 29 percent in Arsenal Holdings plc,” the statement read.

Kroenke increased his own holdings in April, and has yet to offer Usmanov a seat on the Arsenal board.