Alisher Usmanov ‘looking to sell 30 per cent stake’ in Arsenal – but won’t give them to Stan Kroenke

Alisher Usmanov is looking to sell off his Arsenal shares, according to reports.

The billionaire holds a 30 per cent stake in the London club but appears to be giving up on his ambition to buy the club outright.

Usmanov has previously offered $1.3billion to Stan Kroenke, Arsenal’s majority shareholder, to take his 67 per cent of shares in the Gunners.

But the offer was turned down, with Kroenke’s KSE (Kroenke Sports & Entertainment) UK Inc claiming that its shares were not up for sale.

The Financial Times are reporting that Usmanov is now giving up on his desire to be the outright owner of Arsenal.

It is claimed that he is actively looking for buyers for his 30 per cent of shares.

“He was really frustrated that Kroenke wouldn’t sell at any price and now just wants out,” one person close to Usmanov is reported to have claimed.

Usmanov and Kroenke have had reported disagreements over the direction of the club in recent years.

Kroenke offered Usmanov £525million last summer to buy out his 30 percent, but it was turned down at the time.

“I have always been and will continue to be an ardent supporter of Arsenal and I see my 30 per cent stake as an important aspect in protecting the best interests of the fans in the club,” Usmanov said at the time.

While Usmanov is actively looking for someone to buy the shares, it is reported that he will still not sell to Kroenke.

Usmanov, who made his money in the metals industry, first acquired shares in Arsenal in 2007 in a partnership with current Everton owner Farhad Moshiri, who he bought out in 2016.