Arsenal Football Club shareholder Alisher Usmanov has said he will not sell his stake in the club as Stan Kroenke looks to finalise a takeover for the Gunners.
The Russian billionaire told Bloomsberg: "I'm not going to sell my stake. I love Arsenal, that's why I'm a shareholder."
Usmanov owns 27% of the club’s holding company and is the key remaining shareholder after Kroenke took his stake to 62.89% after he acquires the shares of Danny Fiszman and Lady Nina Bracewell-Smith, forcing the American to make a mandatory offer for the club.
The news comes on the back of the Arsenal Supporters’ Trust refusing to sell its small stake in the club.
"The AST and the Arsenal Fanshare scheme will not be selling the shares it owns and urges all supporters to reject this offer," a statement said.
Like Kroenke, Usmanov first invested in the Gunners in 2007, purchasing a 14.65% stake before taking the figure to over 26% in 2009.