Usmanov looks to increase stake
Tycoon does not want to be on board when not invited
Last Updated: June 21, 2012 8:48pm
Alisher Usmanov: Uzbek billionaire is open to increasing his shares
Uzbek tycoon Alisher Usmanov is keen on increasing his stake in Premier League giants Arsenal, although he admits he is not after a place on the board.
The 58-year-old made his money in steel and technology businesses and is worth an estimated £11.8billion.
He is one of a handful of tycoons who own or hold stakes in English club sides, such as Roman Abramovich at Chelsea and Anton Zingarevich at Reading.
"As much as possible, every time, I'm open to increase my shares," said Usmanov.
Usmanov's Red & White vehicle, which he jointly owns along with business associate Farhad Moshiri, owns 29.72 per cent of Arsenal, while American billionaire Stan Kroenke owns 66.83 per cent.
Gunners chief executive Ivan Gazidis recently warned Usmanov that joining the board would create 'conflict'.
But Usmanov does not see himself joining the Arsenal board anyway, as he said: "No, I don't want to be on the board when I'm not invited."