Alisher Usmanov is backing Stan Kroenke's appointment to the Arsenal board.
The Telegraph says in the past the two men have been perceived as rivals in the long-term power struggle for control of the club.
The election of Kroenke, as well as other directors to the club's board, is among the resolutions to be considered at the meeting later this week. Usmanov, who will not be at the meeting, on Wednesday released a statement that outlined his voting intentions.
"Red and White Holdings confirms that it is voting in favour of all the resolutions," said the statement. "We are supportive of the board and team under Arsene Wenger and looks forward to success this season."