Usmanov bid to buy Arsenal rejected by Kroenke

Arsenal boss Arsene Wenger has yet to announce if he will carry on as manager

Arsenal boss Arsene Wenger has yet to announce if he will carry on as manager

The Russian oligarch, who owns a 30 per cent stake in the club, is reportedly worth £11.2bn.

The club is in a vulnerable position, as is Stan Kroenke and Alisher Usmanov has identified this. Such a deal would value Arsenal at £1.54billion.

Kroenke has rejected the offer, which was sent last month. "Now I am not so sure".

Arsenal's poor performance has generated frustration among supporters and increased the tensions between fans and Mr Wenger. The bid was made a month ago in a letter that also included a proposal to work together to secure the future of the club if Kroenke doesn't want to sell. "Some continuity is needed".

How Usmanov would account for any potential purchase and future expenditure remains to be seen, but these questions - and many more - need to be answered him since it's very clear Kroenke has left the door slightly ajar to a bigger, historic counter-offer, something Usmanov clearly has the funds and appetite for.

With unrest on and off the field - despite Arsenal's late season surge to scrape back into the top four places and retain Champions League football next season - tension amongst fans has reached breaking point with many suggesting both Wenger and the board as a whole should walk away.

How did he make his fortune?

Usmanov now has the maximum stake he can hold without making an official takeover, with 30% ownership in his hands.

What's he said about Wenger?

Usmanov has also called for an overhaul of Arsenal's commercial operations.

Last October he said: "I personally, unfortunately, am fully isolated from decision-making in the club".

"All the responsibility for the fate of the club rests with the main shareholder", Usmanov told Bloomberg. The Uzbek-born Russian is of the view that the owner isn't investing enough in the squad, and recently blamed Kroenke, along with the Arsenal board, for the club's recent failures.

Usmanov increased his stake to 30 per cent previous year, buying out Moshiri, who went on to buy Everton.

Usmanov now owns 30 per cent of the Gunners but does not hold a seat on the board and repeatedly blamed majority shareholder Kroenke for the club's inability to compete for the game's biggest prizes in recent seasons.

The Sun have contacted Arsenal for comment and are waiting for a response.