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    Premier League: Usmanov makes $1.2billion bid to buy Arsenal

    Russian billionaire, Alisher Usmanov, on Friday made a $1.3billion bid to buy Arsenal from American Stan Kroenke, Financial Times has reported.

    Usmanov already owns a 30% stake in the club, but has written to majority shareholder Kroenke to express his interest in taking over. Kroenke is yet to respond to the letter, which was sent last month, but is thought to be unwilling to sell.

    “Two weeks ago, I thought something could realistically happen. Now I am not so sure,” The Financial Times quotes a source as saying.

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