Camden New Journal - Sports - MP sounds alarm over takeover

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Camden New Journal - By TOM FOOT
Published: 8 May 2008

Jeremy Corbyn

MP sounds alarm over takeover

Fears of billionaire’s buy-out after managing director walks away from club

JEREMY Corbyn MP has pledged to step up his campaign against a rumoured takeover of Arsenal after the shock departure of the club’s managing director Keith Edelman on Thursday.
The Gunners-supporting MP, whose constituency covers the Emirates Stadium, told the New Journal: “I want to keep watching the situation to make sure Arsenal is safe for the fans.”
Mr Edelman announced his departure after eight years.
He was been a fierce opponent to the possibility of foreign ownership amid rumours that Red and White Holdings Limited, headed by Russian billionaire Alisher Usmanov, may be preparing a hostile takeover.
Mr Corbyn said: “Edelman was strongly against foreign ownership and will be missed. I have asked for records of Usmanov’s human rights record in Uzbekistan be made public. I am not happy that someone like that could take over the club.”
In a written question to the Europe minister in October, Mr Corbyn called for all British embassy reports relating to Mr Usmanov’s human rights record be revealed.
Mr Corbyn added: “Many people hugely appreciate the football club and look to it and its players as role models and that is why I believe the public needs and is entitled to know the character of the person who has bought such a large stake in the club.”
Red and White Holdings Limited, which is jointly owned by Mr Usmanov and London-based Farhad Moshiri, has upped its stake in the club to 24 per cent and is now the largest shareholder ahead of director Danny Fiszman.

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