BBC NEWS, 2009/02/16 17:00:03 GMT
An investment vehicle co-owned by Arsenal's majority shareholder Alisher Usmanov has increased its stake in the north London club to a 25% holding.
His firm previously held 24.9% of Arsenal, and if its stake was to reach 30%, could make a formal takeover bid.
He bought into Arsenal in August 2007, paying former vice-chairman David Dein about £75m for his 14.65% stake.
Arsenal's board has a 'lockdown' deal meaning no director can sell their holding before April.
After then they must give each other first option on buying one another's stakes in the club.
However, in December Lady Nina Bracewell-Smith left the board and her 15.9% holding has been freed from the agreement.
In the balance
The Russian billionaire has denied making a £50m offer to Lady Bracewell-Smith for her shares.
A further 12.4% is owned by US businessman Stan Kroenke, but he has sided with the current directors by accepting a seat on the board.
The other major shareholder is Daniel Fiszman, with a 24.11% stake.
If Lady Bracewell-Smith's 15.9% stake were bought by Mr Usmanov it would take the metals magnate past the 30% mark, which would force him to launch a takeover bid.
But if Mr Kroenke were to buy her shares, he would become the club's majority shareholder with a 27.9% stake.
An investment vehicle co-owned by Arsenal's majority shareholder Alisher Usmanov has increased its stake in the north London club to a 25% holding.
His firm previously held 24.9% of Arsenal, and if its stake was to reach 30%, could make a formal takeover bid.
He bought into Arsenal in August 2007, paying former vice-chairman David Dein about £75m for his 14.65% stake.
Arsenal's board has a 'lockdown' deal meaning no director can sell their holding before April.
After then they must give each other first option on buying one another's stakes in the club.
However, in December Lady Nina Bracewell-Smith left the board and her 15.9% holding has been freed from the agreement.
In the balance
The Russian billionaire has denied making a £50m offer to Lady Bracewell-Smith for her shares.
A further 12.4% is owned by US businessman Stan Kroenke, but he has sided with the current directors by accepting a seat on the board.
The other major shareholder is Daniel Fiszman, with a 24.11% stake.
If Lady Bracewell-Smith's 15.9% stake were bought by Mr Usmanov it would take the metals magnate past the 30% mark, which would force him to launch a takeover bid.
But if Mr Kroenke were to buy her shares, he would become the club's majority shareholder with a 27.9% stake.
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