Usmanov still eyeing Arsenal takeover as he lines up £1.5 billion windfall

Alisher Usmanov, the second largest shareholder in Arsenal FC, is expected to step up his efforts to take control of the English soccer club in the coming months, and is likely to receive a £1.5 billion windfall that would more than fund such a move.

Usmanov, whose Red and White Holdings company owns more than a quarter of the shares in Arsenal, behind only the American businessman Stan Kroenke. Kroenke was expected to launch his own takeover bid this year, but the waters have been muddied by his apparent interest in taking full control of the St Louis Rams NFL franchise, of which he owns 40 per cent.

• Last month: Usmanov buys new Arsenal shares and won't rule out takeover
• Takeover will be expensive: Arsenal are third most valuable club in world

Usmanov is expected to partially float his mining and steel business, Metalloinvest, on the London Stock Exchange, guaranteeing a nine-figure windfall. Usmanov owns 50 per cent of the company, which is valued at £20 billion.

Meanwhile, Arsenal chief executive Ivan Gazidis will meet shareholders and fans tonight at the Emirates Stadium media centre for an end-of-season questions and answers session.