Arsenal fans have been warned they cannot block a full blown takeover.
Football finance experts today praised Arsenal's attempt to get supporters to invest in the club, but doubted the scheme would be able to prevent a takeover of the club on its own.
The team is launching Arsenal Fanshare, which splits a normal share into 100 parts so that supporters can buy into the club for £95, or around £10 a month.
The move is intended to aid the Arsenal Supporters Trust's policy of opposing a buyout by a rich investor, in light of the difficulties experienced at Manchester United and Liverpool.
But with American sports entrepreneur Stan Kroenke holding nearly 30% of the shares and Uzbeki billionaire Alisher Usmanov another 27%, a full takeover seems hard to rule out.
David Bick, a football finance expert in the City, told the London Evening Standard: "These schemes are extremely well meaning, but they don't work."
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