Your Local London
Text your news or pictures to 80360 starting message with LOCAL. click here for details »
Billionaire advised to sell his shares in Gunners?
8:33am Sunday 12th October 2008
UZBEK billionaire Alisher Usmanov is ready to sell his shares in Arsenal, according to the News of the World.
The 55-year-old - who has a 24.9 per cent stake in the north Londoners - was widely expected to launch a takeover bid for the north London club.
But the Sunday newspaper claims that Usmanov has been advised to forget about a takeover, and adds that he will now concentrate on his steel company, Metalloinvest.
The news will no doubt be meet with approval by fans, who marched on the Emirates Stadium in protest at Usmanov's involvement with the club last season.
The billionaire's interest kickstarted a 'lock-down' agreement by the Gunners' board, with directors instructed to sell their stakes only to 'permitted persons' before April 2009, and then give board members first option on shares until October 2012.
Your sayYour Guardian
Add your comment
Register for a FREE This Is Local London account and you can have your say on today's news and sport by adding comments on articles we publish. The best comments may even get published in the paper.
Please register now or sign in below to continue.
In this section
- Young Guns crash out of the Carling Cup
- Nurse hat-trick seals comfortable Daggers cup win
- Dagger goes out on loan to Grays
- Wanderers MD buys Wasps
- Muir the merrier as he seals Epping’s victory
- Forest win vital six-pointer against Boro
- Thai boxing hits the heights at local club
- Loughts are simply the best against City losers
- Hammers trio are released in clearout
- ‘King of Bling’ dazzled by people’s champ Lee
Sponsored Links
Editor's Choice
Banking Bill leads Queen's Speech
Gordon Brown has presented a slimmed-down legislative programme for the coming year in a Queen's Speech focusing tightly on measures to help Britain through the economic downturn.
Health boss 'expects' child protection review
A HEALTH chief has written to local NHS organisations and urged them to review their child protection procedures, in the wake of the death of Baby P.
WALTHAMSTOW: Woman forced to live with gaping hole in ceiling
A TEENAGE tenant has had to tolerate a large hole in her kitchen ceiling for seven months.
Librarygate: Council opened "ghost libraries" to fool inspectors
Scheming Lambeth Council conned Government inspectors to protect its position as London’s most improved council, then tried to cover it up.
Bexley Council care cuts to hit 2,000
UP to 2,000 vulnerable people who were receiving their home care through Bexley Council are likely to have their help withdrawn.
REDBRIDGE: Man arrested in 'Christmas crackdown'
A MAN from Redbridge has been arrested as part of a London-wide police operation to crackdown on commercial robberies in the run-up to Christmas.
Speaker faces MPs after search row
Commons Speaker Michael Martin is preparing for a showdown with MPs furious over the Scotland Yard raid on Damian Green's parliamentary office.
Local Information
Enter your postcode, town or place name
