LONDON: Russian billionaire Alisher Usmanov said Tuesday he is selling his 30 percent stake in Arsenal to Stan Kroenke in a deal that values the club at £1.8 billion ($2.3 billion).
"I have decided to sell my shares in Arsenal Football Club, which could be the best football club in the world," he said.
"I wish all the best and great success to this wonderful football club and to all those whose lives and careers are entwined in it."
American majority shareholder Kroenke earlier Tuesday announced a bid to take full ownership of the club.