Russian billionaire Alisher Usmanov and his company, Red and White Holdings, have increased their share of the Arsenal Football Club.

The share they own was increased to 25 percent and now they need to acquire just 5 percent more to launch a formal takeover bid under Stock Exchange rules.

A statement released by the company read, "In line with Red and White's previously stated intention to secure a significant shareholding in Arsenal and ensure that its position is protected.

"We are pleased to have now secured over a quarter of the shares of Arsenal. We are committed long-term investors and supporters of the club and are comfortable that we are now in a protected position.

"We also welcome the strengthening of the squad and look forward to a successful conclusion to the season."