Alisher Usmanov has denied holding talks about selling his shares in Arsenal to majority stakeholder Stan Kroenke.
Reports suggested Kroenke Sports Enterprise UK (KSE) was set to offer around £525million to buy the 18,695 shares held by Usmanov's Red and White Securities Limited.
Despite being the club's second-largest individual shareholder, Usmanov has not been given a seat on the board and it appears unlikely that situation will change.
Arsenal can be backed at 33/1 with Sky Bet to win the Premier League title and the Gunners are joint-favourites at 6/1 to lift the Europa League trophy.
The Arsenal Supporters' Trust (AST) urged Usmanov not to sell his 30 per cent stake in the club and he has responded with a statement assuring fans his interest in the club is long-term and that he intends on purchasing additional shares should they become available.
He said: "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.de
"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.
"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.
"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."
