Russian billionaire Alisher Usmanov has reportedly made a £1bn bid to buy out rival shareholder Stan Kroenke at Arsenal.
Usmanov, a Russian metals magnate, owns 30 per cent of the club and has approached Kroenke, the sports mogul who controls a 67 per cent stake, to buy out the American.
According to the Financial Times, Kroenke has yet to formally respond to the offer.
It’s understood Kroenke did not initially dismiss the approach, which was made last month, but has since informally indicated he is not interested in selling the club.
The two businessmen have clashed in the past over the direction of the club, with the Russian magnate concerned by Kroenke’s lack of investment.
Speaking to Bloomberg last month, Usmanov argued Arsene Wenger was not entirely to blame for Arsenal’s disappointing season but suggested Kroenke and the board were at fault.
“I do not think that the coach alone is to be blamed for what is happening,” Usmanov said, before adding that the board – and main shareholder – “bear huge responsibility”.