Dein sells Arsenal stake

Former vice chairman sells up

By Robin Hackett   Last updated: 30th August 2007   Subscribe to RSS Feed

Dein sells Arsenal stake

Dein: Stake sold

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David Dein has sold his 14.58 per cent stake at Arsenal to a firm co-owned by a Russian billionaire.

Dein, the club's former vice chairman, left in April due to 'irreconcilable differences' with the board, believed to have related to his support for a foreign takeover.

And he has now sold his stake in the club for £75m to Red and White Holdings Ltd, co-owned by Alisher Usmanov, a 52-year-old who made his money in metal.

"I have always had the best interests of Arsenal at heart - I've had a love affair with the club since I was six," said Dein in a statement to the stock exchange.

"I firmly believe that the involvement of Red & White with a significant stake and the long-term commitment of Arsene Wenger are absolutely the best outcome for the club, fans and shareholders alike.

"I am delighted to have found, in Farhad Moshiri and Alisher Usmanov, individuals who share my vision for Arsenal and of where it needs to go to be the world's leading football club."

Dein is chairman of the Red and White group.