Usmanov ups stake in Arsenal despite Kroenke deal

Russian investor Alisher Usmanov has spent more than $115,000 to increase his holding in Arsenal despite Stan Kroenke reaching agreements to acquire a controlling stake in the English Premier League club.

Usmanov, whose stake in Arsenal remains at 27 percent after acquiring six shares, has said he has no plans to sell his shares to Kroenke.

Kroenke's stake in Arsenal will rise from 29.9 percent to 62.89 percent after he agreed to buy shares from Nina Bracewell-Smith and Danny Fiszman, who died last week. Already a director, Kroenke has made an offer to buy the remaining shares in Arsenal.

Kroenke owns the NFL's St. Louis Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche and Major League Soccer's Colorado Rapids.