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Usmanov Gunning for Bigger Arsenal Share

Published: September 4, 2007 (Issue # 1303)


MOSCOW Billionaire Alisher Usmanov said Friday that he wanted to increase his stake in Arsenal Football Club to 25 percent and that although he was eager to play an active role in the London club, he was not seeking to buy it outright.

Usmanovs purchase of nearly 15 percent in the club Thursday the second investment by a Kremlin-friendly oligarch in a leading English Premier League team after Roman Abramovich bought Chelsea in 2003 received a mixed reaction from the clubs fans and the British media, with some fearing a Russian takeover.

I would increase my share to a blocking stake 25 percent if such an opportunity presents itself, Usmanov said. Regardless of the size of my stake, I am ready to play an active role in the life of the club, he said in e-mailed comments through his spokeswoman.

Usmanovs Red and White Holdings on Thursday said it had paid $151 million for a 14.58 percent stake in the club from former Arsenal chairman David Dein. Asked why he bought into Arsenal, Usmanov said he loved English football and had been a fan of the team, whose nickname is the Gunners, for eight years.

In the case of Arsenal, my love for the club and a successful business opportunity coincided, he said. This is perhaps an opportunity of a lifetime.

The Arsenal purchase is the latest in a series of diverse investments by the Uzbek-born Usmanov, who ranked 18th in Forbes Russias 2007 rich list with an estimated fortune of $5.6 billion.

Usmanov is majority owner of the Metalloinvest mining and metals group, and runs Gazproms investment arm, Gazprominvestholding.

Last year, Usmanov bought business newspaper Kommersant from Badri Patarkatsishvili, a longtime associate of exiled oligarch Boris Berezovsky. This summer, Usmanov bought into the countrys third-biggest mobile phone company, MegaFon. Both deals were widely seen as having the implicit backing of the Kremlin. Usmanov joins a growing list of Russian tycoons buying into and bidding for British football clubs. Since Abramovich bought Chelsea, Alexandre Gaidamak, the son of Russian-Israeli billionaire Arkady Gaidamak, has bought Portsmouth.

Meanwhile, Lithuanian businessman Vladimir Romanov has bought control of Scottish club Heart of Midlothian, and a bid for West Ham fronted by Kia Joorabchian, a former business associate of Berezovsky, was rejected by the East London club in September.

Buying into Arsenal could be a smart investment for Usmanov. In a recent report, Deloitte ranked Arsenal as the worlds ninth-highest earning football club in the 2005-06 season, with total revenues rising 12 percent to 192.4 million euros ($263 million). The figures were buoyed by the clubs August 2006 move to the new 60,000-seat Emirates Stadium, which could bring in an estimated extra 58 million euros per season, the report said.

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Thursday, Apr. 24


Learn more about Denmark during the Danish Business Delegations visit to SPIBA this evening starting at 5:30 p.m. at the Danish Culture Institute. Danish Consul general Klaus Sorensen will be in attendance and the buffet following a presentation on Danish companies in Russia will be the perfect opportunity to network with the assembled businessmen.


AmChams Human Resources Committee Meeting is scheduled for 9 a.m. this morning in their St. Petersburg office. Check their website for more details.



Friday, Apr. 25


Light Music presents the main events for their Cultural Kitchen project at Loft-Project Etagi today. A B2B event that focuses on Finnish food, arts, travel, music and design, the evening will conclude with a dinner by chef Jyrki Tsutsunen and dancing to music by Aino Venna. The event, which began yesterday with presentations by tourism and cultural institutions, concludes today with a preview of Finlands Flow festival and other musical events. Invitations are available from www.culturalkitchen.fi.



Saturday, Apr. 26


At 6 p.m. this evening, stylist Liliana Modigliani offers 50 simple ways to up your style quotient with beauty tips at the Galeria shopping center on Ligovsky Prospekt. The event is part of the final day of the shopping malls Fashion Saturday sales event, this week focusing on top brands located on the ground floor as well as presentation from fashion experts on sprucing up your spring look.



Sunday, Apr. 27


Families shouldnt miss Childhood Planet 2014, the trade fair that started yesterday and concludes today at LenExpo. Not only will goods and services be provided for children and families but the event hopes to promote Russian brands and eco-friendly products using the latest technology available in the childcare industry.



Monday, Apr. 28


The Hotel Indigo will be the site of SPIBAs Acting Skills for HR and Other Managers master class this morning starting at 9 a.m. The event will begin with coffee before moving on to the class itself and conclude with a tour of the recently opened hotel. Confirm attendance by Apr. 24.



Tuesday, Apr. 29


Improve your English at the British Book Centers Interactive English Lesson tonight at 6 p.m. Students at pre-intermediate and intermediate levels are welcome discuss topics that are selected to help learners master the more difficult aspects of English grammar and vocabulary.