David Dein will press for reinstatement to Arsenal's board after the Uzbek billionaire Alisher Usmanov raised his stake in the club to 21 per cent on Monday. Having been ousted from the board in April, Dein became chairman of Usmanov's Red and White Holdings last month when he sold it his 14.58 per cent stake. Having acquired the shares belonging to Birol Nadir and Lansdowne Partners, a hedge fund, Usmanov intends to continue to buy shares.
It is his principal intention to build a "significant" shareholding although, at least for the next six months, there will be no full takeover bid. According to one source close to Usmanov's company, it intends to manoeuvre for a position on the board. That is a bold ambition since the "irreconcilable differences" that led to Dein's departure still block his path back - the chairman, Peter Hill-Wood, recently said he would not meet Dein after "25 years of listening to him".
That might explain why Red and White yesterday played down the campaign for a say in Arsenal's future. A spokesman said: "The question of board representation has not been raised or discussed. It is a matter for the board, not us."
The Uzbek's new investment alters the landscape. The €28 million paid for Lansdowne's 3.13 per cent broke down at €14,756 per share. That values the largest shareholding, 24.11 per cent belonging to Danny Fiszman, at €215 million, up from €129 million six months ago.
The Arsenal Supporters' Trust, which is opposed to any hostile takeover, fears that by buying up minor shareholders, Usmanov could reach a level where he needs only to persuade two people to sell in order to gain 50 per cent and control of the club.
The 12.2 per cent stake the US billionaire Stan Kroenke owns and Lady Nina Bracewell-Smith's 15.9 per cent are pivotal.
Arsenal sources say Fiszman and Bracewell-Smith will fight a takeover and that directors, their friends and family continue to control more than 50 per cent of the club. It is believed Kroenke was approached but declined to sell to Usmanov.
"I am not concerned about a takeover," said the manager, Arsene Wenger. "The shares are 50 per cent inside the board and 50 per cent outside the board, that will not change anything. I don't feel there is anything big moving around the club or uncertainty surrounding the ownership."
Meanwhile, Eggert Magnusson is to step down as West Ham's executive chairman, it was announced yesterday.
Magnusson will remain as the club's non-executive chairman and the Hammers' Icelandic owner Bjorgolfur Gudmundsson is to take a more hands-on role in the club.
Gudmundsson is to appoint an executive team to handle the day-to-day running of the club, but Magnusson will continue to be heavily involved and will keep his own stake in the club. The shake-up is intended to take West Ham to the next stage of their plan to break into the top four in the Premier League, and includes moving to a new stadium.
Northern Ireland players Keith Gillespie and George McCartney were fined by the Irish Football Association (IFA) yesterday after fighting with each other on the way back from a Euro 2008 qualifier in Iceland last week.
"The IFA wishes to apologise to any members of the public who were affected in any way by the behaviour of these players," the association said in a statement. The IFA did not reveal the size of the fines which, it said, would be donated to charity.
