Kroenke keeps his options open

Stan Kroenke's ambitions for Arsenal have been thwarted by Alisher Usmanov's interest in the club, according to the Russian billionaire's inner circle. Usmanov's advisers are confident that the €14,500-a-share investment he made in acquiring a portion of his 23 per cent stake in the Premier League leaders will deter the American from increasing his own 12.2 per cent interest.

Usmanov's camp is also taking Kroenke's refusal to purchase when offered the 14.6 per cent equity that previously belonged to David Dein as evidence that he has no stomach for further investment. "Kroenke will not put a bid together," said a source. "Look at the investment he made: £6,500 (€9,400) a share. He could have bought Dein's shares but he didn't."

Kroenke's intentions, beyond opening more active dialogue with the club's current board, have never been made public. A meeting between the US sports tycoon, who is himself a billionaire, and directors will take place this month.

The Russian hinted this week that he was interested in learning more about Kroenke, who owns a portfolio of US sports clubs including Colorado Rapids, who are in the process of finalising a marketing agreement with Arsenal.

"Kroenke is the best shareholder in the football club," he said. When asked whether he would seek to hold talks with Kroenke, Usmanov said: "If someone wants to have a relation with me then fine." However, it is unlikely that will come to pass.

Kroenke is believed to consider the £180 million (€259 million) Usmanov has paid in building his position at Arsenal extravagant but he is keeping his investment options open. Usmanov might believe that he can entice the American into selling his significant stake - which, if acquired, would trigger a mandatory takeover bid from the Russian - for a €43 million profit on his outlay in March and April.

"The lock-down agreement (obliging shareholders not to sell over a 12-month period) was in response to Kroenke's involvement and a long time before we bought shares," said Usmanov's more junior co-investor, Farhad Moshiri. "The shareholders want to keep Arsenal independent and that's fine. But if the directors refuse to sign the lock-down then that's a new environment. How that will affect our involvement and how it will affect the directors we will see."

Dein, who is the chairman of Usmanov's investment company, Red & White Holdings, is believed to remain upbeat despite the remarks that Usmanov made earlier this week concerning the former Arsenal vice-chairman's negative relationship with the club's current directors.

Meanwhile, Robin van Persie always had a feeling Arsenal would come good this season - and reckons Arsene Wenger's side can develop into the unstoppable force of English football.

The Dutchman was on target against Steaua Bucharest on Tuesday night to ensure a ninth straight win for the Premier League leaders.

It has been an impressive opening two months of the campaign by a squad which was supposed to struggle without the services of Thierry Henry, who left for Barcelona.

Van Persie, though, is certainly not surprised by the start this Arsenal side have made.

"At the start of the season I said we will surprise - and everyone was laughing," the 24-year-old Dutchman recalled. "Now 12 games into the season, everyone says, 'Ooh, look at Arsenal, they are a good team'. This I knew before and my mind has not changed.

He added: "If we can stay together we can do amazing stuff in the future. We are progressing every week we play. If we just play our normal game, not many teams can stop us. We can win trophies. Why not?"