Arsenal Takeover Close?

Red & White Holdings Limited have upped their stake in Arsenal to 25%, just 5% below the stake that would require them to make a formal takeover bid under the rules of the stockmarket.

The holding company is owned by Russian Millionaire Alisher Usmanov and Farhad Moshiri. The investors confirmed that the move was in line with their previously stated position to protect their position in the club.

The holding company was formed after the departure of David Dein in August 2007 who sold his the 14.5% share in the club. Since then Usmanov has been upping his stakes gradually.

At present, the other members of the Arsenal board have a lock-down agreement in place preventing any short term takeover bid. But it looks like should the chess pieces shift, Usmanov and Moshiri will be in a prime position.