Going by the inklings, English Premier League should brace for a Russian invasion. After oil tycoon Roman Abramovich took over Chelsea, another deep pocket Russian, Alisher Usmanov, has joined the fray by grabbing 14.5% stake of Arsenal.
The development came after former Arsenal vice-chairman David Dein decided to sell his stake to the Russian for £75m, apparently to force the club to agree to a takeover bid by American tycoon Stanley Kroenke.
Usmanov is the majority shareholder in Metalloinvest, a Russian metallurgy firm, and has holdings in Russian newspaper Kommersant and mobile phone firm Megafon.
Dein had resigned from Arsenal board after the club had rejected the takeover bid and Dein could be back in the board again after he was named the chairman of the firm, Red & White Holdings, which is part-owned by Usmanov.
Defending his decision to sell the stake, Dein said
I have always had the best interests of Arsenal at heart. I’ve had a love affair with the club since I was six.
Dein also asserted that Arsenal manager Arsene Wenger, his chum, would continue in the job and would play a vital role for the future success of the club.
Abramovich started the trend in 2003 when he bought Chelsea for £140m, which was the biggest takeover in British football history.
