Dein Sells Shares In Arsenal!

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Former Arsenal vice-chairman David Dein has thrown the future ownership of the North London Premiership club into the melting pot by selling his 14.6 per cent shareholding in the Gunners for £75 million to a company that is co-owned by Russian billionaire Alisher Usmanov.

Usmanov made his fortune in the steel industry and is listed on the Forbes World Richest People List at number 278 and is worth an estimated $2.6 billion.

The announcement, by the firm Red and White Holdings Ltd, puts the Arsenal board under further pressure to face up to an eventual takeover of the club.

Dein has been appointed chairman of Red and White, who say they want to increase their stake, and that they will approach the Arsenal board soon, alhough the company have no immediate plans for a full buy-out.

Yesterday the Gunners secured qualification for the Champions League group stage foir the 10th consecutive season. That will bring in at least another £20 million in revenue.

Arsenal fans have been anxiously awaiting a resolution of the boardroom and ownership issues that have threatened to destabilise their club.

It was in April that Dein dramatically quit the club, whose board cited “irreconcilable differences” with their vice-chairman.

His resignation was attributed to his failure to persuade fellow directors to support American businessman Stanley Kroenke's attempts to increase his involvement in the club.

The board, led by chairman Peter Hill-Wood, whose family have been associated with the running of Arsenal for generations, own just over 45 per cent of the club's shares.

Arsenal are thought to be worth £432 million.

If Dein's shares had been sold to Kroenke, the American would need only another three per cent to trigger a takeover bid under Stock Exchange rules.

Dein brought manager Arsène Wenger to Arsenal in 1996, and the pair are close friends. Wenger is expected to sign a new contract soon, as his existing deal expires at the end of this season.

Dein first made his money in sugar trading, and bought into Arsemal in 1983, paying less than £300,000 for his initial 16 per cent stake and becoming vice-chairman in 1984.

By 1991 he had built up a 42 per cent share, but has been running it down in recent years.

Goal.com - Arsenal - Dein Sells Shares In Arsenal

[kyan]

This was breaking news just before the draw took place earlier.

It's no real surprise tbh (other than the person who it's been sold to... neither Kroenke or Ecclestone).

Dein's made a lot of money, but he wants to return to the Arsenal board although apparently this Usmanov bloke just wants to invest rather than buy out the club (for how long is yet to be seen).

Another Russian billionaire in the Premiership though, if he does invest a lot of money in the club Arsenal could really reach the level they used to be at, they only need 2 or 3 players...

[Mighty T.A.L.]

Alisher Usmanov is already talking about increasing his stake...

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Former Arsenal vice-chairman David Dein has warned the Gunners that they must consider those wishing to invest in the club if they have realistic hopes of winning the Premiership title again.

Dein fell out with the Arsenal board following his backing of American billionaire Stan Kroenke ahead of a potential takeover of the North London club.

The falling out led to Dein leaving the club, which in turn destabilised the club and in particular Arsene Wenger and the now departed Thierry Henry.

Dein has now sold his stake in Arsenal to Uzbek billionaire Alisher Usmanov for £75million, but he seems to still be firmly interested in being involved in the club again in the future.

"We can all live in a comfortable, closeted world where we're happy for a football club to be making £20million or £30million a year," Dein told the News of the World.

"But this sport is now a global game - and those figure are small beer.

"I'm not talking about this year, or even next year - but in three years' time I firmly believe Arsenal will be blown out of the water unless the board open the door to new investment.

"If Arsenal are to have a realistic chance of winning the Premier League in the future, then the club has to accept they will need a huge injection of money.

"Everybody has seen what Chelsea have done and they are there for the long term.

"Arsenal say they are in great shape today but we're not talking about today.

"We are talking about the future. Unless the current board realise you cannot judge things by this year's standards or even next year's, then I'm afraid we're going to get left behind by others - and that would break my heart."

Goal.com - England - Dein Warns Arsenal To Consider Investment