Russian billionaire buys Arsenal stake

By Elena Moya and Marc Jones

LONDON (Reuters) - A firm co-owned by Russian billionaire Alisher Usmanov said on Thursday it had bought a 14.6 percent stake in Premier League club Arsenal from former Vice Chairman David Dein for 75 million pounds.

The purchase by Red & White Holdings, which also named Dein as its chairman, could eventually put further pressure on the Arsenal board to face a takeover.

A spokesman for Arsenal declined to comment.

Red & White said it wanted to increase its stake and would approach the board shortly but had no immediate plans for a full buyout.

Red & White "has committed funds to enable it to increase its stake in Arsenal", the firm said in a statement. "Red & White believes that in order to remain competitive at the top level of the game, Arsenal will require access to significant funding."

The firm now plans to meet Arsenal's board, whose members together own 45.5 percent of the club and have opposed a sale. They also have a lock-up period that runs through April.

The firm stated that it was acting independently from U.S. billionaire Stan Kroenke, who bought 10 percent of Arsenal this year and has lifted it to 12.2 percent.

"I welcomed the involvement of Stan Kroenke earlier this year. The creation of Red & White is equally welcome," Dein said in a statement.