Russian billionaire makes massive £1bn bid to buy Arsenal from Stan Kroenke- Alisher Usmanov is set to buy-out Arsenal from majority share-holder Stan Kroenke. - The Russian billionaire made a massive £1billion (about N490billion) bid to buy the club - Legit.ng understands that the 63-year-old currently owns 30 per cent of the Gunners' shares Alisher Usmanov is set to buy-out Arsenal from majority share-holder Stan Kroenke. The Russian billionaire made a massive £1billion (about N490billion) bid to buy the London club. READ ALSO: Checkout Cristiano Ronaldo’s exotic N6.6b Gulfstream private jet (photos) The 63-year-old can boast of about 30 per cent of the Gunners' shares. According to reports, Usmanov wrote to Kroenke, expressing his interest to take over the club. The business tycoon saw his initial bid to take-over the club rejected last month. PAY ATTENTION: Get the latest sport news on Legit.ng Sports App The Russian is an ardent supporter of the Gunners boss Arsene Wenger and has expressed what he feels about the Frenchman's short-comings. He said in an interview: "I do not think that the coach alone is to be blamed for what is happening." “Some continuity is needed. This includes the need to prepare a successor for Wenger, but in a very respectful way. I can suggest that Wenger himself can prepare a successor," he added. READ ALSO: Pass-Masters! Azpilicueta, N'Golo Kante, 3 other top passers in the EPL this season Legit.ng reported that the Wenger is set to extend his contract at the end of the season. According to Forbes in 2017, Usmanov has an estimated net worth of about $15.1billion Sources revealed that the Russian business magnate owns the world's biggest yacht and he also bought his first shares at the London club in 2007 which expanded to 30% in 2016. Meanwhile, you can see Legit.ng's video of the Super Eagles training ahead of the World Cup qualifiers. Source: Legit.ng - Alisher Usmanov is set to buy-out Arsenal from majority share-holder Stan Kroenke. - The Russian billionaire made a massive £1billion (about N490billion) bid to buy the club - Legit.ng understands that the 63-year-old currently owns 30 per cent of the Gunners' shares READ ALSO: PAY ATTENTION: READ ALSO: Legit.ng Legit.ng