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22 May 2017, 03:57 | Simon Arnold
AP Source: Usmanov bid to buy Arsenal rejected by Kroenke
Reports claim that Alisher Usmanov has made a £1billion bid to buy-out Arsenal majority shareholder Stan Kroenke, but BBC reporter David Ornstein has dismissed it.
The 63-year-old now owns 30 per cent of the club through Red & White Holdings and Press Association Sport understands a formal bid was made for Kroenke's shares but it is believed the American is expected to reject the offer.
But the timing of the move and the leak is significant, ahead of what is set to be an weekend of soul-searching and protest among Arsenal fans if - as expected - the club's 19 consecutive years of Champions League football comes to an end.
Arsenal must beat Everton in their final Premier League fixture of the season, and hope that either Liverpool or Manchester City lose in their own matches, to stand any chance of qualifying for next season's Champions League.
They go on to state that, according to sources familiar with the process, other bidders were considering their own offers to Kroenke for his shares, possibly indicating that the ownership of Arsenal is as tenuous as it has been since the American took full majority control in 2011.
Arsenal Holdings made a pre-tax profit of 2.9 million pounds in 2016, on revenue of 353.5 million pounds ($461 million).
"Something has to change, whether it is the manager Arsene Wenger or whether it is the board upstairs".
'Arsenal fans have been waiting for the board or Mr Kroenke to clarify a lot of topics this season and Arsenal fans are still waiting for that.
Yet Kroenke, who owns 67%, after gradually building up his holding since 2007, is unwilling to contemplate the deal. It's early right? It's just amusing how when people talk about his company and is it for sale or not for sale we straight away have a statement about it, ' said the Frenchman. "I don't see what he has to do with that". "I would swap Arsenal's last 10 years for what Chelsea have done".
"Overall I believe we played since January in a very hard environment for different reasons", Wenger said.
Finishing fifth means Arsenal will play in the Europa League for the first time next season and missing out on Europe's premier tournament may not sit well with their star players.
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