Red and White Holdings Ltd have increased their stake in Arsenal and become the clubs second largest shareholder. The company is jointly owned by Russian billionaire Alisher Usmanov and business partner Farhad Moshiri. They now own 21% of the club behind Danny Fizman who owns 24%.

There has been much speculation regarding a takeover of the club. However, key members and shareholders remain hostile to the idea. Usmanov first invested in the club in August when he paid £75 million to takeover David Dein’s 14.65% holding. The current board believe that a takeover would not be beneficial to the club. Arsenal have had a great start to the season with young players starting to shine. Arsene Wenger has put pen to paper on a new contract and the club made some strategic acquisitions during the summer transfer window.

"David Dein believes Arsenal need more money whereas the existing board says they have moved to a new stadium, they are doing very well, they are top of the league and they have got the best manager probably in the country, so why do they need any more money?"

Arsenal are set to release their financial results next week. Their move to the new Emirates Stadium will have boosted revenue and is expected to cut the gap between themselves and rivals Manchester United and Chelsea.