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Islington Tribune - by TOM FOOT
Published: 23 May 2008

Gunners hold fire as takeover bid is denied

ARSENAL fans say they have been reassured over rumours of a hostile takeover bid following a meeting with club bosses.
After the spectacle of Manchester United and Chelsea competing in a showpiece European Cup final on Wednesday night, fans are asking how long Arsenal – ranked in April as the third most valuable club in the world – can resist the lure of foreign ownership?
The Arsenal Supporters Trust (AST), representing 700 shareholders with a
3 per cent stake in the club, quizzed acting director Ken Friar on Monday.
AST chairman Tim Payton told the Tribune: “It was a very constructive meeting. We were told there is a sizeable transfer budget available this summer.
He added: “I do not think any takeover is imminent following our discussions this week. Our message is that all shareholders in the club, large and small, are against a hostile takeover.”
The largest single stake by a non-board member in Arsenal is held by Red & White Securities.
It is co-owned by Russian billionaire Alisher Usmanov, who is rumoured to be planning a hostile takeover of the club.

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