Alisher Usmanov makes £1BILLION offer to buy Arsenal from majority shareholder Stan Kroenke
Russian oligarch amazing bid values the North London club at £1.6bn - but American businessman is reluctant to sell
ALISHER USMANOV has made a staggering £1BILLION bid to buy Arsenal.
The Russian oligarch, who owns a 30 per cent stake in the club, is worth £11.2bn.
Usmanov wrote to majority shareholder Stan Kroenke to express his interest in taking over.
It is thought the Russian - who values Arsenal at £1.6bn - knew his bid would be rejected, but hoped he would gain traction with fans disillusioned with 'Silent Stan'.
Kroenke has rejected the offer, which was sent last month.
A source told the : "Two weeks ago, I thought something could realistically happen. Now I am not so sure."
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Usmanov, 63, is a strong supporter of under-fire Arsenal boss Arsene Wenger.
Last month he said: "I do not think that the coach alone is to be blamed for what is happening.
“Some continuity is needed. This includes the need to prepare a successor for Wenger, but in a very respectful way. I can suggest that Wenger himself can prepare a successor."
In a singing review of the Frenchman last year, he said: "We are all very high on Arsene. He's a great manager. He's been a wonderful influence on the club.
Tale of the tape
Alisher Usmanov
Who is he? Uzbekistan-born Russian oligarch, 63, interests in metals, telecoms, media, mining
What's he worth? £11.2bn
How did he make his fortune? Making plastic bags in the Soviet Union
How big is his stake in Arsenal? 30 per cent
What's he said about Wenger? “I do not think that the coach alone is to be blamed for what is happening. Some continuity is needed. This includes the need to prepare a successor for Wenger, but in a very respectful way. I can suggest that Wenger himself can prepare a successor.”
Trivia: A former fencer, he’s president of the International Fencing Federation
Stan Kroenke
Who is he? American, 69, real estate and sports mogul, also owns LA Rams, Denver Nuggets, Colorado Rapids, Colorado Avalanche
What's he worth? £5.8bn
How did he make his fortune? Real estate and construction
How big is his stake in Arsenal? 67 per cent
What's he said about Wenger? “He's a great manager. He's been a wonderful influence on the club. The hardest thing to do is be consistently competitive at the top of the league. Arsene has always done that.”
Trivia: His nickname is Silent Stan, because he rarely does interviews
"I know a number of [sports team] owners who are very successful who say the same thing; the hardest thing to do is be consistently competitive at the top of the league. Arsene has always done that and Arsenal has always been in that position. We have always been competitive.”
Usmanov, who acquired his fortune in the metal industry, is believed to be concerned by a lack of investment in Arsenal.
The fifth-placed Gunners face missing out on Champions League football next term.
But Usmanov currently has no power to help salvage the club.
Last October he said: "I personally, unfortunately, am fully isolated from decision-making in the club.
“All the responsibility for the fate of the club rests with the main shareholder.”
American businessman Kroenke, 69, who is worth £5.8bn, first bought a 9.9 per cent share in Arsenal in April 2007.
Throughout the years he has increased his stake and secured 67 per cent last May.
Usmanov - who owns the world's biggest yacht - also first bought shares in 2007 and increased his holding to 30 per cent last year.
The Sun have contacted Arsenal for comment and are waiting for a response.