Arsenal's Russian owner considering selling off his shares due to frustrations

Arsenal's Russian owner considering selling off his shares due to frustrations

- Usmanov and Kroenke have been involved in a tussle over full ownership of Arsenal for years

- Kroenke is the majority shareholder with 67% while Usmanov owns 30%

- Usmanov attempted to buy-out Kroenke's 67% but the American was unwilling to sell

- The unfavourable political climate has made matters tough for Russian oligarchs in London

- Fellow Chelsea owner Abramovich has also experienced similar frustrations but with UK authorities

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Russian tycoon, Alisher Usmanov, is reportedly looking to sell his shares at Arsenal.

Thee Russian billionaire owns 30% of Arsenal while American sports mogul Stan Kroenke is the majority shareholder with 67%.

According to the Financial Times, Usmanov attempted to buy-out Kroenke's 67%, but the American was unwilling to sell his shares to the Russian.

Arsenal Russian owner considering selling off his shares due to frustrations

Arsene Wenger, former Manager of Arsenal and Stan Kroenke, Arsenal owner shake hands after The Emirates FA Cup Final between Arsenal and Chelsea at Wembley Stadium on May 27, 2017 in London, England.

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The two billionaires have been trying to acquire full ownership at the club but they have both been unable to reach an agreement on several occasions.

However, the Russian seemingly frustrated at Britains's crackdown on Russian oligarchs, looks ready to offer his shares to Kroenke, who will become the sole owner of Arsenal.

And according to Sky Sports, Kroenke offered £525m to Usmanov in October 2017, to buy his 30% stake but the Russian refused to sell saying his interest in the club was long term.

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Arsenal Russian owner considering selling off his shares due to frustrations

Russian oligarch Alisher Usmanov stands in front of JMW Turner's painting ' The Harbour of Brest ' in the Tate Britain art gallery on November 7, 2008 in London, England.

Meanwhile, Usmanov also attempted a £1bn takeover at the club but the American billionaire insisted his stake was also not for sale at any price.

The recent drama surrounding Russian oligarchs and their investments in the Queen's land has worsened matters for the Russian and possibly also fueled reason for him to want to sell his shares.

Kroenke is also the ultimate decision maker at the club and calls all the big shots at Emirates further frustrating his co-owner.

Arsenal Russian owner considering selling off his shares due to frustrations

Los Angeles Rams owner Stan Kroenke watches warm ups before the NFL game against the Arizona Cardinals at the University of Phoenix Stadium on December 3, 2017 in Glendale, Arizona.

To add on to Usmanov's woes, the recent scandal revolving around the poisoning of double agent Sergei Skirpel and his daughter in Britain has made London quite unfavourable for rich Russians.

As Briefly.co.za previously reported, fellow compatriot and Chelsea owner, Roman Abramovich was reportedly granted Israeli citizenship following his failure to get his UK visa renewed in time.

Arsenal Russian owner considering selling off his shares due to frustrations

Chelsea owner Abramovich looks on form the stands at Stamford Bridge.

The 51-year-old missed out of the Blues FA Cup celebration after beating Manchester United to win their only title in the 2017/18 season due to the expiration of his visa.

However, his efforts to get his visa renewed was greeted with loads of rigorous activities by the UK government after the Skripal incident.

However, Usmanov's final decision remains unknown with the Russian billionaire likely to make public his final move in the forthcoming weeks.

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Source: Briefly.co.za

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