Usmanov keeps options open

RUSSIAN billionaire Alisher Usmanov last night insisted he has no immediate plans to take over Arsenal, but admitted: “This is business life and things can change”.

Usmanov’s company Red and White Holdings, chaired by former Arsenal vice-chairman David Dein, last week increased its stake in the Gunners to 23%. That has raised the spectre of a hostile takeover bid but the 54-year-old Uzbek-born metal tycoon claimed that is not on his current agenda.

Usmanov said: “We want to have a large stake in Arsenal. Up to now we have acquired 23%, maybe we will have to increase that to 25%. We have no intention of bidding for the club but this is business life and things can change. Something we may not be able to do today but we can maybe do tomorrow.”

He added he was not out to make a quick profit from the £120 million he has spent on his shares.

“I do not want to set any intentions other than those set by the shareholders. I do not want to buy to sell. I have always been a fan of the club and I could see that as well as getting immense pleasure from the investment, it could also be a useful addition to my portfolio.”

Usmanov has had to contend with allegations about his past and Arsenal chairman Peter Hill-Wood last week described his business background as “murky”. But Usmanov said: “It is beyond my dignity to respond to the allegations. My father worked hard in the Uzbek judicial system and my mother was a wonderful human being. These people could not have brought up what one European politician called a gangster and racketeer. I will leave that one to his conscience.”