Billionaire Usmanov made $1.3 billion offer for control of Arsenal

Arsenal boss Arsene Wenger has yet to announce if he will carry on as manager

A source at the Financial Times, though, stated their belief that Usmanov's offer, which was rejected by Kroenke back in April, is now not likely to succeed in spite of an expectation that he may eventually manage to drive Kroenke out.

Usmanov, the metals magnate, has clashed with Kroenke over the direction of the club and he has suggested the club's senior management has to take a firmer line.

With the future of manager Arsène Wenger yet to be determined, Usmanov has himself said the Frenchman should not take sole responsibility for the club's poor performance this season, adding the board, including Stan Kroenke, must take responsibility also.

The Financial Times reported on Friday (19 May) that billionaire Uzbek-born Russian steel magnate Usmanov, who increased his own stake in the Premier League giants to 30% after buying out partner and now Everton owner Farhad Moshiri past year, had made a $1.3bn (£1bn) offer to buyout his fellow shareholder.

Edouard named as French premier
Macron, a former minister and investment banker, was elected as the country's youngest-ever leader since Napoleon on May 7. Philippe, the mayor of the Normandy port of Le Havre, is a trained lawyer and an author of political thrillers.

This breaking news story is being updated as more information emerges - please refresh the page for the most recent version. In an interview with Bloomberg last month, Usmanov said the blame for the club's performance should not rest exclusively with Wenger, but also with Kroenke and the board, from which Mr. Usmanov is excluded.

The Financial Times reported Usmanov made the offer last month, and that Kroenke has yet to formally respond.

Arsene Wenger, who has been manager since 1996, has been the target of protests from some of the club's fans. "I would swap Arsenal's last 10 years for what Chelsea have done". Kroenke has long maintained his investment is on behalf of his family for the long term and he sees it as being for generations. He played college football - as well as a high standard of basketball - and always followed the Premier League when he was younger.

Arsenal are now facing up to a multi-million pound drop in revenue after failing to qualify for next season's Champions League, but the statement of intent from KSE indicates the American is at the Emirates Stadium for the long haul.

Related News:

  • Will deal with only triple talaq due to paucity of time: SC

    Will deal with only triple talaq due to paucity of time: SC

    The bench is headed by Chief Justice of India Justice J S Khehar and has four other senior judges. But we are not here to tinker with religion, tenets of religion and religious practices.

    Ford gets ready to cut jobs

    Ford said last August it planned to double its Palo Alto staff, which would mean hiring more than 100 researchers and engineers. The auto maker also has around 25,000 employees in Asia, but there are no figures on how many of these are salaried.
    USA  refusal to lift sanctions erodes Rouhani's bid for second term

    USA refusal to lift sanctions erodes Rouhani's bid for second term

    The nuclear deal would also ideally bring some peace in the region between Iran, Saudi Arabia and Israel. Iranian cleric and presidential candidate Ebrahim Raisi shown at a campaign rally in Tehran , Iran.
  • 'Shadow Brokers' threaten to release more hacking tools in June

    From the letter, it looks like group tried auctioning these hacking tools, but they didn't really find buyers for the same. Yet, we could not and should not believe anything the group says only because they posted it on a blog.
    Aishwarya Rai Is Killling It At The Cannes Film Festival

    Aishwarya Rai Is Killling It At The Cannes Film Festival

    And if you're an Aishwarya Rai Bachchan fan, you don't have to wait too long now to see the icon light up the French Riviera too. She promoted the film at Cannes the year it released, accompanied by co-star Shah Rukh Khan and director Sanjay Leela Bhansali.
    'It Takes Just The Slightest Amount': Officer Recovering After Accidental Fentanyl Overdose

    'It Takes Just The Slightest Amount': Officer Recovering After Accidental Fentanyl Overdose

    Buckel, the suspect in the East Liverpool case, was arrested and faces felony drug charges. "He's lying on the couch", Lane said. During the stop, the driver of the auto allegedly tried to use his foot to rub a white powder into the carpet.
  • Sensex signs off week above 30000 post GST rate anouncement

    Sensex signs off week above 30000 post GST rate anouncement

    Japan's Nikkei was down 0.16 per cent, Hong Kong's Hang Seng advanced 0.15 per cent and Taiwan Weighted was down 0.04 per cent. FMCG stocks hogged the limelight after the GST Council fixed rates for most of the items.

    Spurs beats Man United in stadium finale to secure 2nd spot

    Victor Wanyama and Harry Kane's goals made sure that their side ended the final season at White Hart Lane undefeated. Fans ran onto the pitch as Tottenham played their last game before the temporary move to Wembley next season.
    Jeffco board unanimously approves three-year contract for new superintendent

    Jeffco board unanimously approves three-year contract for new superintendent

    The district has reserves to cover the difference, but those will start to diminish for next year if the funds never arrive. Of the three candidates vying for the school board's only vacancy, Steven Smith was declared the victor , with 227 votes.
  • What time is it? Who has qualified? Who can England face?

    Our detailed planning for the group, and the tournament, starts now. "We are going to have to be bulletproof at the World Cup". Reigning world champions New Zealand and struggling South Africa will also meet in a repeat of the 2015 semi-finals.

    Kim Si-woo becomes youngest victor of The Players Championship

    Once Kim dropped his three birdies putts, he was unrelenting, especially when he made par saves on six of the back-nine holes. Now he's here to stay for at least the next five years, and based on his game, probably much longer.
    Triple Talaq an Issue of Women within Minority Community

    Triple Talaq an Issue of Women within Minority Community

    Lalit and Abdul Nazeer, had begun the hearing on May 11. "No, legislation got rid of it", Chief Justice Khehar observed. If it is bad in theology, it can not be accepted in law.What is morally wrong can not be legally right.


Most liked

Kane scores 4 as EPL runner-up Tottenham routs Leicester 6-1
The home side thought they had found a foothold in the game when Chilwell was gifted his first Leicester goal in the 59th minute. Jokes aside, the 23-year-old had the ideal outing, taking command of the Golden Boot race with a four-goal display.

Spicer: Sally Yates Was A "Strong Supporter" Of Hillary Clinton
Spicer described Yates, who was an Obama appointee, as "someone who is not exactly a supporter of the president's agenda". Over the next several days, Yates proved that she was hostile to the President's agenda and was terminated.

Daydream standalone VR by Qualcomm
Google has presented its new standalone headset, which will feature Daydream powered by dedicated chipsets and sensors. Google made it clear that this positional tracking works without users having to install any external sensors.

Mauricio Pochettino pulls no punches after West Ham loss, admitting 'champions win'
Spurs have just come off a run of nine consecutive wins in one of the most competitive leagues in the world which is no mean feat. But Tottenham's title hopes were in tatters after 65 minutes as West Ham opened the scoring.

Skipping your beauty sleep may make people avoid you
Basically, when you see someone who looks sick, the last thing you want to do is hang out with them. Two subjects were even rated as more attractive in their sleep-restricted photos.

NASCAR's Aric Almirola out 8-12 weeks with broken back
Almirola was involved in a fiery crash during Saturday night's NASCAR race at Kansas Speedway. Regan Smith will drive the No. 43 Smithfield Ford in this weekend's Monster Energy Open Race.

Todd Prichard: Taking away Planned Parenthood funding wrong move
Planned Parenthood serves about 30 percent of those enrolled in the state's Medicaid family planning waiver program. Governor (Kim) Reynolds and legislative Republicans are celebrating the closing of these clinics", said Sen.

Jose Mourinho already has Europa League final squad in mind
The former Germany captain recently spoke of his frustration at playing at a lower level of football. Winning that competition carries entry into the Champions League group stages.

McDonald's to collaborate with Uber to deliver food in US
McDonald's in other cities will be added in the coming months, according to a press release. Among the selections include Tito's, Don Julio, Stella Artois and Dom Perignon.

Rex Tillerson responds to John McCain's criticism
Kislyak is a central figure in the probe into Russian election meddling and the involvement of former National Security Adviser Mike Flynn.

Boston Celtics: Isaiah Thomas not feeling the pressure of Game 7
Washington's win in Game 6 was the first time all postseason that a home team won an elimination game during the 2017 playoffs. Since his incredible 53-point outburst in Game 2 , however, the point guard has failed to reach the 20-point mark three times .

Armed Groups Allow Evacuations To Begin From Embattled CAR Town
UN Secretary General Antonio Guterres said on Sunday he was " outraged " by the attacks on the 13,000-strong mission. People connected with the anti-Balaka group are also suspected in the attack.

Titles more important than top four to Manchester United, says Mourinho
David de Gea has accepted he will be on the bench when Manchester United take on Ajax in the Europa League final. Do you something awesome to share with the world?

Galaxy Note 8 New leaks Reveals 6.3 inch Display and Dual Camera
Camera-wise, of course it can not measure up to other devices so don't expect to be taking award-winning mobile photography. The smartphone will come in black and gold hues of the case, and in these colours it is likely to be sold outside of China.

Pak moves closer to China, hails controversial CPEC
On Sunday, Xi pledged US$124 billion for the new Silk Road which expands links between Asia, Africa, Europe and beyond. The Belt and Road Forum for International Cooperation was held in the city for two days.