Uzbek billionaire Alisher Usmanov plans to up his stake in Arsenal.

The Daily Mail says Usmanov wants to increase his stake in Arsenal Football Club, but is not planning to take a place on the board.

Usmanov is one of a handful of Eastern European tycoons who own or hold stakes in English club sides, such as Roman Abramovich at Chelsea and Anton Zingarevich at Reading.

"As much as possible, every time, I'm open to increase my shares," Usmanov said.

"No, I don't want to be on the board when I'm not invited."

Usmanov's Red & White vehicle, which he jointly owns with business associate Farhad Moshiri, owns 29.72 per cent of Arsenal, according to the club's website.

American billionaire Stan Kroenke is the majority shareholder with 66.83 per cent.