If You Do Not Vote for Him, He Will Take Power
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by Tyduffy
Uzbek billionaire Allsher Usmanov increased his stake in Arsenal once again on Tuesday. Usmanov co-owns Red and White Holdings Ltd., which purchased the 14.65% holding of boardroom bete noire David Dein for 75m GBP in August. His recent acquisitions have brought his share in the club to 21%, leaving him the second largest shareholder, only trumped by Danny Fizman who owns a 24% stake.
The move brings Usmanov 9% short of 30% of the club, which, under the club's guidelines, would force him to make a takeover bid. Arsenal chairman Peter Hill-Wood has reiterated that the board are not willing to sell their shares.
Arsenal are set to release their financial documents on Monday, and it is widely speculated that they will announce an annual turnover of 200m GBP, making them the first British club to have done so.
The prospect of a takeover bid itself has Arsenal supporters understandably sceptical, worried how the change in ownership would affect the running of what has been a remarkably successful club under Wenger's tenure.
However, they should also be cautious about the figure of Usmanov, himself. The oligarch has launched a legal attack on Arsenal supporters' websites and blogs. His legal group, Schillings, have warned sites that have posted the allegations against him by former British ambassador to Uzbekistan Craig Murray to remove them immediately. Schillings have referred to said allegations as "false, indefensible, and grossly defamatory."
Odds and Sods makes no claim as to the truth of any of the allegations made against Mr. Usmanov (we are not experts on Uzbek politics), so it is not our place to comment. However, freedom of speech and the right to information halt for no man, no matter how many billions he may have. His attacks on blogs and websites with no political agenda except a love for their club have been dictatorial and downright shameful.
Originally published here.
