There have been several reports recently that Alisher Usmanov will announce any day now that he
has acquired Lady Nina Bracewell-Smith's 15.6% share in Arsenal. This will take Usmanov's holding
to over 40%, resulting in him being obliged to make a formal offer for the club.
The Board, namely Peter Hill-Wood will make statements to the effect that the club is not for
sale, despite the fact the Hill-Wood sold his shares in Arsenal many years ago to David Dein!
Arsenal announced their financial results for the year ending 31 May 2009 and the news is great
on all fronts.
Revenue from football activities is up £18million due to our extended runs in both the FA Cup
and the Champions League. When people say qualification to the knock-out stage of the Champions
League is worth £20million that is not far off the mark.
Arsenal has had a giant axe hanging them in the form of a loan in the region of £130million.
This loan needs to be repaid by April 2010. The loan relates to the development of Highbury
Square.
Unless anyone has been living in a cave for the last 18 months, the property market has
collapsed, leaving the club with over 600 flats to sell.
