Alisher Usmanov insists he is not in talks about potentially selling his shares in Arsenal to Stan Kroenke, and remains open to either becoming the club's owner or supporting a takeover from a consortium.
Kroenke's offer, worth around £28,000 per share, came five months after Usmanov - who has no position on the Arsenal board - had launched a £1billion takeover bid of his own that had been rejected by Kroenke.
Here is Usmanov's statement in full...
"In recent days there has been speculation relating to a possible offer for my 30 per cent stake in Arsenal.
"As part of that I can understand the anxiety that these rumours are causing to the fans as reflected by the Arsenal Supporters Trust.
"In light of this, I would like to be clear that I am not holding any talks with Mr Kroenke about a sale.
"My interest in Arsenal from the beginning was long term and my intention has always been to buy additional shares should they become available.
"This I did with the purchase of the stake of my business partner Farhad Moshiri with which I increased my shareholding from 15 per cent to 30 per cent, and also with my proposed offer for the stake of the majority shareholder which valued the Club at some £2bn.
"That offer remains valid today. I have always been and will continue to be an ardent supporter of Arsenal and I see my 30 per cent stake as an important aspect in protecting the best interests of the fans in the club.
In Pictures | Arsene Wenger's 22 years at Arsenal
"It has been well documented that I have no say in the running of the club, that my views differ from those of the majority shareholder and that I would take a different approach to delivering footballing success.
Read More
"I would like to assure supporters that I am open to various future scenarios - a constructive partnership with the majority shareholder, the purchase of his stake either alone or in a consortium, or if a party appears who shares my and undoubtedly the majority of fans’ vision for the club, I could consider the question of selling my stake."