LONDON—Russian businessman Alisher Usmanov has increased his stake in Premier League club Arsenal.
Red & White Holdings, which is jointly owned by Usmanov and business associate Farhad Moshiri, says it has taken its holding from 26 percent to “over 27 percent.”
American investor Stan Kroenke remains the largest individual shareholder in Arsenal with 29.9 percent. Usmanov has not been invited onto the board of directors.
If either investor was to take their stakes to 30 percent, he would have to make an offer for the remaining shares in Arsenal Holdings. If either Kroenke or Usmanov manages to acquire more than 50 percent of the shares, he would gain legal control of the club.
Kroenke owns the St. Louis Rams and Denver Nuggets, Avalanche and MSL champion Rapids.
