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Billionaire advised to sell his shares in Gunners?
8:33am Sunday 12th October 2008
UZBEK billionaire Alisher Usmanov is ready to sell his shares in Arsenal, according to the News of the World.
The 55-year-old - who has a 24.9 per cent stake in the north Londoners - was widely expected to launch a takeover bid for the north London club.
But the Sunday newspaper claims that Usmanov has been advised to forget about a takeover, and adds that he will now concentrate on his steel company, Metalloinvest.
The news will no doubt be meet with approval by fans, who marched on the Emirates Stadium in protest at Usmanov's involvement with the club last season.
The billionaire's interest kickstarted a 'lock-down' agreement by the Gunners' board, with directors instructed to sell their stakes only to 'permitted persons' before April 2009, and then give board members first option on shares until October 2012.
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