Post by Salem6 on Oct 31, 2003 7:40:37 GMT
By Wayne Veysey, Evening Standard
30 October 2003
The mystery over whether Arsenal are in talks with a Russian billionaire deepened today after it was claimed that vice-chairman David Dein had approached two oligarchs with a view to investing in the club.
On Monday, top level Highbury sources denied industry tycoon Vladimir Potanin, said to be worth around £4.3billion and Russia's fifth richest man, had approached them to plough £120million of his fortune into their new stadium at Ashburton Grove.
But these latest claims suggest that it is in fact Arsenal who have made all the running.
According to Moscow sources close to the talks, initial inquiries were made by Dein, who contacted intermediaries with a view aimed at opening talks with Russian aluminium magnate Oleg Deripaska.
After receiving a lukewarm response from Deripaska, Dein reportedly turned to Potanin.
Deripaska and Potanin have both denied negotiations with the north London club were underway, but Moscow sources have indicated that such talks have not been ruled out.
It was thought Potanin was ready to help fund the new £450m stadium, rather than copy compatriot Roman Abramovich's £140m buy-out of Chelsea.
Potanin, 42, is an Arsenal supporter who has flown over to watch games at Highbury on a number of occasions.
His money would represent a crucial boost to plans for the proposed 60,000-seater ground that has been beset with financial problems.
Arsenal, who top the Premiership, have struggled to find banks willing to loan them £260m of the £450m cost of the development and, with on-going delays in the planning process, have pushed back the opening date by a year to the start of the 2006-07 season.
These latest reports over Russian talks will inevitably lead to further speculation of splits in the Arsenal boardroom.
Club director - and largest shareholder - Danny Fiszman has been the driving force behind the move to Ashburton Grove and has repeatedly rejected accusations that the project has spiralled out of control.
Dein is believed to feel the project is too expensive and complicated and would favour a move to the new Wembley.
Any financial backing from a Russian billionaire would be a huge boost to Arsenal manager Arsene Wenger.
The Highbury board has been reluctant to release any funds to him because of the need to raise money for their new stadium development.
Goalkeeper Jens Lehmann, at £1.25m, was Wenger's only significant signing of the summer.
He has also allowed talented youngsters, in striker Francis Jeffers and winger Jermaine Pennant go out on loan in a bid to trim the Highbury wage bill.
30 October 2003
The mystery over whether Arsenal are in talks with a Russian billionaire deepened today after it was claimed that vice-chairman David Dein had approached two oligarchs with a view to investing in the club.
On Monday, top level Highbury sources denied industry tycoon Vladimir Potanin, said to be worth around £4.3billion and Russia's fifth richest man, had approached them to plough £120million of his fortune into their new stadium at Ashburton Grove.
But these latest claims suggest that it is in fact Arsenal who have made all the running.
According to Moscow sources close to the talks, initial inquiries were made by Dein, who contacted intermediaries with a view aimed at opening talks with Russian aluminium magnate Oleg Deripaska.
After receiving a lukewarm response from Deripaska, Dein reportedly turned to Potanin.
Deripaska and Potanin have both denied negotiations with the north London club were underway, but Moscow sources have indicated that such talks have not been ruled out.
It was thought Potanin was ready to help fund the new £450m stadium, rather than copy compatriot Roman Abramovich's £140m buy-out of Chelsea.
Potanin, 42, is an Arsenal supporter who has flown over to watch games at Highbury on a number of occasions.
His money would represent a crucial boost to plans for the proposed 60,000-seater ground that has been beset with financial problems.
Arsenal, who top the Premiership, have struggled to find banks willing to loan them £260m of the £450m cost of the development and, with on-going delays in the planning process, have pushed back the opening date by a year to the start of the 2006-07 season.
These latest reports over Russian talks will inevitably lead to further speculation of splits in the Arsenal boardroom.
Club director - and largest shareholder - Danny Fiszman has been the driving force behind the move to Ashburton Grove and has repeatedly rejected accusations that the project has spiralled out of control.
Dein is believed to feel the project is too expensive and complicated and would favour a move to the new Wembley.
Any financial backing from a Russian billionaire would be a huge boost to Arsenal manager Arsene Wenger.
The Highbury board has been reluctant to release any funds to him because of the need to raise money for their new stadium development.
Goalkeeper Jens Lehmann, at £1.25m, was Wenger's only significant signing of the summer.
He has also allowed talented youngsters, in striker Francis Jeffers and winger Jermaine Pennant go out on loan in a bid to trim the Highbury wage bill.
