Former Arsenal vice-chairman David Dein has sold his 14.6% stake in the English Premier League club to Russian billionaire Alisher Usmanov for £75m.
Usmanov owns Red and White, a company set up with London-based investor Farhad Moshiri specifically to invest in Arsenal, and Dein will become chairman of the group.
In an announcement to the stock market Dein said he had always had the best interests of Arsenal at heart.
'I firmly believe that the involvement of Red & White with a significant stake and the long-term commitment of Arsene Wenger are absolutely the best outcome for the club, fans and shareholders alike,' he said.
