Arsenal investor strains start to show

Arsenal’s tepid season on the pitch has again exposed the animosity between the club’s Russian and American owners off it.

Alisher Usmanov, who owns more than 30% of the club, has voiced his opposition to Stan Kroenke, the biggest shareholder, saying he’s also responsible for the team’s Premier League performance.

Embattled coach Arsene Wenger, whose future is under scrutiny, should have a say in picking his own successor, said Mr Usmanov.

“I don’t think the coach alone is to be blamed for what’s happening,” said Mr Usmanov .

The board — from which the Russian billionaire is excluded — and main investor “bear huge responsibility,” he said.

Mr Usmanov also called for an overhaul of Arsenal’s commercial operations. While Arsenal’s full-year revenue of about £350m (€410m) is the third-highest in the Premier League, it’s about 30% less than that of Manchester United, which generates more commercial income from jersey-sponsorship rights and its branding.

The Russian, whose assets include miner Metalloinvest and Russian telecommunications operator MegaFon, has long been critical of Arsenal’s management, saying as long ago as 2012 that a lack of investment was holding the club back from competing for top honours.

He offered to underwrite a rights issue he said would have provided Arsene Wenger with the money to try and buy the very best players in the sport. Shareholders instead opted to sell their majority stake to Mr Kroenke, a US sports team owner.

It’s been a clash of styles, to say the least. Mr Usmanov is a soccer fan and a regular attendee at games. Mr Kroenke believes in his hands-off approach.

The Arsenal Supporters Trust has long called for an overhaul of the team’s board. A majority of its members wants Arsene Wenger to go, said spokesman Tim Payton.

“We believe that as a significant shareholder of Arsenal he should have a seat on the board as part of a complete boardroom shakeup,” said Mr Payton.

“Our own analysis has shown commercial revenues are flat and well behind other major clubs.”

“Some continuity is needed,” said Mr Usmanov. “This includes the need to prepare a successor for Wenger, but in a very respectful way. I can suggest that Wenger himself can prepare a successor.”

“I personally, unfortunately, am fully isolated from decision-making in the club. All the responsibility for the fate of the club rests with the main shareholder.”