Arsenal majority shareholder Stan Kroenke has launched a bid to take 100 per cent control of the club, which will value the Gunners at £1.8 billion.
According to the Mirror's Matt Lawless, Kroenke will pay Alisher Usmanov £550 million for his 30 per cent stake in Arsenal, giving the former "complete control" over the club.
Lawless relayed a statement from Kroenke's company, KSE:
"KSE UK is pleased to announce the terms of its all-cash offer to acquire the entire issued and to be issued ordinary share capital of Arsenal Holdings PLC other than the Arsenal Shares already held by KSE.