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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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ALL ABOUT TOWN

Friday, Aug. 22


Get ready to pledge allegiance to the flag during National Flag Day, paying tribute to when, 23 years ago today, the iconic hammer-and-sickle was replaced with the tricolor that now flutters in the wind. Petersburgers will be treated to a free concert on Palace Square, a military parade and a culminating air show featuring Russias Russian Knights stunt pilots.



Saturday, Aug. 23


Uppsala Park plays host to Fairy Noon today, a performance of five separate fairy tales ranging from folk classics to more haunting selections. There will be three different renditions of the tales throughout the day and tickets start at 500 rubles ($13.80) for adults and 300 rubles ($8.30) for children.


Classic Finnish cartoon characters the Moomins expect to receive a warm welcome from Russian fans during todays Moomin Festival at the Pearl Plaza Shopping Center at 51 Petergofskoye Shosse. Become a kid again or introduce a new generation to the beloved creation of Finnish writer Tove Jansson.



Sunday, Aug. 24


The tortured genius of Dutch master Vincent van Gogh gets his day in the centers Konnushnaya Ploschad during Make Art Like Van Gogh, a daylong celebration of the artist that will allow amateur artists to try and replicate the work that made the famed painter world-renowned.


Experience a variety of dances highlighting the diversity of the world around as at the final day of the Ethno-Dance International Dance Festival that has been at the St. Petersburg Humanitarian University of Trade Unions this past week. Tonights performance will feature Egyptian dancers accompanied by local orchestras.



Monday, Aug. 25


Today kicks off the Elena Obraztsovoy International Competition for Young Vocalists in the large hall of the Shostakovich Philharmonic. Talented youngsters will showcase their range over the next six days before a winner is chosen on Aug. 30.



Tuesday, Aug. 26


Love movies but hate all those words? Then check out Rodina Cinema Centers Factor of Consensus film forum this evening. Silent movie classics from the beginning of the 20th century will be screened and accompanied by a pianist, who will provide the soundtrack for the ongoing action. The screenings begin at 7 p.m. Check Rodinas website for more details.



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