Tag: usmanov

Arsenal reject Usmanov’s cash offer – Be patient!

On By jamesgillespIn Arsenal, Transfers12 Comments

Ivan Gazidis has rejected the offer of cash for transfers from investor Alisher Usmanov. It is a significant show of belief in the strength of Arsenal’s business model and a put down for Usmanov.

It is a very thinly veiled attempt at winning more favour with the fans and putting pressure on the club to buy more players ala Real Madrid. Some fans will be annoyed at the way the board have just rejected this offer, but if it had been accepted then it would have set a dangerous precedent of involvement on Usmanov’s part.

The best thing the club can do is stick to it’s sustainable model of business. The cash thrown about by the likes of Real Madrid is unrealistic and in the long term it gets you nowhere, building a team with character and understanding is more important.

The pressure on Arsenal to win trophies will always be there, and until Arsene wins one with this generation there will always be critics of club policy. The potential is there, as it has been for several years, Arsenal fans just need to learn the art of patience.

Arsenal will be soon be Kroenke’s club

On By jamesgillespIn Arsenal5 Comments

Stan Kroenke is manouvering his way to the top of the pecking order in the Arsenal board. Since his introduction to the club in 2007 we have seen him steadily accumulate shares, and this culminated him being invited to join the Board as a non-executive director in September 2008.

He has now taken a 20% stake – buying 8% from Danny Fiszman, and becoming second largest shareholder after Usmanov – spending £42 million – he is serious about this.

Kroenke took an 11.26% share off ITV in April 2007, and the Board were initally hostile – it was the beginning of a period of turbulence which saw Dein lose his position on the Board, and is still having repercussions today. Dein then sold his stake to Usmanov and suddenly Kroenke seemed like the good guy. The Board invited him in and is now setting him up as the defence against Usmanov and Dein.

This sale has come at a very important time – April 2009 is the end of the lock-down agreement set by the Board – they may now sell their shares to whoever they want. By increasing Stan’s share they are effectively blocking Usmanov. The situation was dangerous as Lady Nina is known to be unsettled and may sell her shares very soon.

Share in Arsenal

  • 25.0% Alisher Usmanov
  • 20.5% Stan Kroenke
  • 16.1% Danny Fiszman
  • 15.9% Lady Nina

Fiszman has given up his position as the second biggest holder, but still wields considerable clout. Usmanov seems unlikely to increase his stake; owning 30% would mean that he would have to launch a take-over bid – not likely at a time when his personal wealth is dwindling.

The lockdown agreement allowed Board members to trade between themselves – and this is the important part – it allows them to leave Usmanov in the cold. This is why Kroenke was invited onto the Board; to allow him to acquire shares. Kroenke is the Board’s choice to lead Arsenal.

The fact that Gazidis was appointed in January 2009, a man who has had contact with Kroenke in the MLS, is important. He may well have been Stan’s choice and hints further at the large scale shift in power within the club. The partnership with Colorado Rapids – Stan’s US football team also points to closer ties.

Personally I would prefer the Board to stay in the hands of the ‘old guard’, but Kroenke has made some promising comments:

“I will continue to work closely with my board colleagues to maintain the stable environment in which the club operates and to preserve the self-sustaining business model enjoyed by the club.”

This makes me hopeful that Stan is the right man for us. It seems inevitable that Arsenal will be in foreign hands in the near future, but Stan has experience in sports clubs and is a proven stable investor.

If he really is interested in maintaing Arsenal as a sustainable club then I am all for him.

Board changes at Arsenal

On By jamesgillespIn Arsenal1 Comment

The most recent news coming from the Arsenal boardroom is that there are a few changes underway.

Lady Nina, who owns 15.9% of the club is leaving the Board, and the club, after a family association of over 50 years. She is now free from the lockdown agreement which the Board members entered into, and is free to sell her shares in the club.

As the third largest shareholder this is worrying, and it seems likely that she will sell, although whether to Board members, or to Red & White Holdings remains to be seen.

As well as Lady Nina leaving, Richard Carr who owns 4.4% will step down from Director, a position he has held for 27 years.

This is all part of the long term changes which began when Dein left the club, and new holders like Usmanov and Kronke have come in. It is not known the terms on which Lady Nina left but there are hints that there is some unrest at Board level.

As ever Hill-Wood wants to keep us stable and self-sufficient. It remains to be seen if this is possible.

Who owns Arsenal:
Directors’ collective shareholding 41.8%
Daniel Fiszman 24.1%
Lady Nina Bracewell-Smith 15.9%
Richard Carr 4.4%
Peter Hill-Wood (chairman) 0.8%
Lord Harris of Peckham 0.09%
Ken Friar 0.07%
Sir Chips Keswick 0.06%
Keith Edelman 0.04%
Others: Red & White Holdings 24%; Stan Kroenke 12.4%
Remaining shares: approximately 1,200 minor shareholders.

Table edited from the Telegraph

Gunnerblog has views and excerpts from Wenger’s recent webchat with fans here.

Also on Sunday against Liverpool wear Yellow! We want to commemorate the title winning season at Anfield 20 years ago, and REDaction has come up with this idea. Newsletters were passed out at the Wigan game, and Arsenal.com has endorsed it too, so it would be great to see a yellow stadium on Sunday.

Hill-Wood can’t deny shareholders in a market economy + Dein is off.

On By jamesgillespIn Arsenal1 Comment

Peter Hill-Wood the Arsenal chairman has spoken out about possible takovers at Arsenal FC.

He sensibly made the point that the Board don’t want to sell, they want to keep the club as it is, but in a market economy, if someone will buy ath the right price, you can’t stop shareholders from selling.

“If somebody came and made a really huge bid then you cannot recommend shareholders turn it down because we don’t like it.

“We want the club to stay in its current ownership and, of course, you have some concern that someone will try to buy the club.

“The directors don’t want to sell but we are a public company. It depends on the price.”

This is nothing more than stating the obvious, so I wouldn’t worry too much, it is just the media getting a story off the back of the Man City takeover.

Of course if someone bids a massive amount of money then shareholders are allowed to sell. Luckily the Board are currently in a lockdown agreement, which means that the biggest shareholders aren’t allowed to sell their chunks of the club.

The main contender is Usmanov, who has something like a 24% stake, he only needs 30% to be able to launch a takeover bid. The lockdown agreement makes this very hard for him to do.

I don’t want to see Arsenal sold to a foreign owner, I like the way the club is run and I think we can be successful without a foreign billionaire bankrolling the club and overruling the manager on many matters.

You only have to look at Chelsea – Mourinho sacked, Shevchenko saga, or Man City – Sven outrageously sacked – to see what unstability such oligarchs can create.

In a related story, David Dein, the man who was helping Usmanov in his bid to buy the club, has stepped down from his role at Red & White Holdings. According to the Daily Mail he has done this to improve Usmanov’s relationship with the club.

“Dein realises that there is now no chance of Usmanov having the type of input into Arsenal — and a possible seat on the board — his shareholding merits while the former Arsenal vice-chairman remains so closely tied to him, such is the hostility towards Dein.”

Dein believes that Arsenal need a billionaire owner to compete in the modern world of football, I think that he realises that his relationship with Arsenal is bad, and Usmanov is better off without him.

I have mixed feelings about the guy, he has done a lot of good for the club, but seems to have gone off the rails slightly. I would imagine that he will still have some level of involvement with Usmanov, but not in the public sphere.

PHW prefers Kroenke as Arsenal push for stability

On By jamesgillespIn Arsenal

Stan Kroenke is likely to be invited to join the Arsenal Board.

The American investor has a 12% share in Arsenal. It seems that the Board have realised if we don’t get him on our side then we will have to face Usmanov, who owns 25% and is pushing to get a blocking stake in the club.

Hill-Wood had this to say:

“Contrary to what I said before, I now believe he may have a vital contribution to make to the future of this football club. I am not denying I said what I said, but I made those observations before meeting Stan. I have now got to know him and I have changed my opinions.

“When I hadn’t met him, yes, I didn’t think he was the right person to take control of Arsenal Football Club. Now I know him as a man who is very much steeped in sport. He is a sports man. He already has a link through our broadband rights and there is every reason to expect that we shall discuss further how his involvement can be extended,”

I think this is definitely a tactical move on Hill-Wood’s part. We would all rather have no interest from these people, but if you have to choose one, choose the one who looks less threatening.

With Kroenke on their side the Board may be able to more effectively fend off Usmanov, whilst keeping control over Kroenke.

This issue is a thorny one, we have seen the problems with foreign ownership at Man City this season, with Eriksson on his way out after the club’s best season in years. The Board will have to be very careful in how they handle this, because it could end badly.

Usmanov The Fencer? Theo, Lehmann

On By jamesgillespIn Arsenal

Good morning to you all on this most fine Monday, I have to be off by 8.30 so I shall write fast…

The Guardian has done an excellent profile of Alisher Usmanov, the man who desires to gain a controlling stake in Arsenal with Dein through their Red And White Holdings company.. Here’s the summary

There’s coverage about his alleged crimes during the 1980s in the Soviet Union for which he was imprisoned. Usmanov was convicted of financial crimes, but, according to Russian journalists, rape too. In September Schillings, his legal firm, took action to remove similar allegations from the website of Craig Murray, the former British ambassador to Uzbekistan. There are also suggestions of relationships with drug traffickers and questions on his close connections with former KGB. He said:

“You are trying to turn the acquaintance of any Russian with members of the KGB into a crime. This is simply not appropriate.”

Usmanov has investments in a subsidary of Gazprom, owns Metalloinvest and Komersant a newspaper. According to Tom Wise MEP his jail pardon came from heroin trafficker and mafia lord Gafur Rakhimov, apparently his mentor.. Usmanov says he only knew him as he was his parents neighbour!

Then there is the case of the death of the man from the Komersant office building, Ivan Safronov, defence correspondent, which he may be linked to.

He admits he considered buying Spurs, but fell in love with English Football when England won the World Cup 1966!?!

The article suggests that possibly Usmanov is using Arsenal to hedge his bets in case of any sudden decline of fortune in the former Soviet Union countries for him as Putin rounds on oligarchs in Russia.

Also he competed on the Uzbek Fencing team.

All I hope is that he keeps hands off Arsenal and away from England, it would be a bad day for Arsenal. The board have entered a lockdown on selling shares for the next few years, which is good as this prevents him increasing his 23% stake. The slogan goes – Love Arsenal – Hate Usmanov, I couldn’t agree more…

Moving on! Website ‘The Voice’ has an article about Pele being an Arsenal fan saying

“Arsenal are my favourite team right now and I think they are the best performing team in the Premier League.”

Its always nice to get praise, especially from one of the World’s most famous players of the beautiful game.. You just have to hope thought that:

1. This sort of praise doesn’t go to the teams heads and they keep playing well.

2. That the team doesn’t get too much hype too early on in the season..

SkySports report that Lehmann has received praise for his performance in the Cyprus match.. It seems to me that Low really wants Lehmann to be playing first team football at Arsenal so he can justify playing him for Germany. A lot of the debate surrounding the transfer has involved Lehmann’s international career, which he probably sees ending after Euro 2008, so he is probably desparate to play more, having been stuck behind Oli Kahn for all those years.. In any case, fair play to Lehmann, and he did make some good saves.

Duncan White says that Theo is the future for England and that McClaren should play him against Croatia. McClaren has obviously not agreed with this view because the Scum’s £16million, 40 goal a season, world class hitman, flop, Darren Bent has been called up…… Anyway enough of that, the article still makes interesting reading, and some good points about Walcott.

“Just playing has been giving me more confidence. If I get more games, I’m sure I can improve further.” Theo

This is what we want to hear from him, the more he scores and plays the more confident he looks and I think he has a bright future as long as he keeps his head down.. The guy is bloody quick.. Interestingly one of my mates played against him at schoolboy level a few years ago.. He told me that they just got the fastest guy on the team and the harshest tackler to mark him and he ran the show.. Anyway…

It looks like Steve Bruce will become Wigan manager today, so I guess we will see him in charge for the first time against us on Sat…

Also according to the Guardian Willy and his French chums were sharing a glass of champagne as Scotland’s defeat ensured their Euro 2008 qualification.

That’s all, I’m off for a jaunt, enjoy this most grey of Mondays and the cold weather…