A brief announcement by Red & White Holdings Limited, confirmed that Russian billionaire Alisher Usmanov has upped his stake in Arsenal to "over 27%". American Stan Kroenke remains the largest individual shareholder in the Barclays Premier League club, with 29.9%.
Under the strict financial rules of the City, were any party to cross the 29.99% takeover threshold, they he would be obliged to make a formal offer for the remainder of the shares.
The news Usmanov - who unlike Kroenke does not yet have a seat on the Arsenal board - has continued his steady accumulation will add further speculation that the Gunners could well fall to foreign ownership.
However, in 2010, the Red & White group released a statement maintaining that a full-blown offer was not on their agenda and they remained "a committed long-term investor in Arsenal".
Non-executive director Danny Fiszman, who controls 16% of shares, is the club's other major shareholder.
