Emirates club set for more share buying.
Arsenal minority shareholder Alisher Usmanov is once again trying to buy the club despite the resistance from the board of directors.
The Russian businessman has written to select small shareholders in a fresh bid to take his stake in the club over the 30% threshold.
He currently owns 29.35% of the Gunners and needs only 405 more shares to take him to the limit that would force him to make a formal takeover bid.
Usmanov has made a £14,000-per-share on offer but it is unclear whether he will be successful or whether he will still be able to buy the club outright.
The majority of the north London side is owned by Stan Kroenke – with a 66.7% stake.
But the American is opposed to Usmanov increasing his share in the club and will not even let the Russian sit on the board.
If Usmanov is successful in his renewed attempts to buy the club he will have to pass the Premier League’s fit and proper persons’ test.
A lot of fans, although initially hostile to Usmanov’s approach, now want him in charge as he is likely to spend the cash needed to make the team challenge for the title.