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Alisher Usmanov is reportedly exploring the possibility of selling his shares in Arsenal as rumours over the Everton-linked Russian continue to swirl.

The billionaire has been a part of the Gunners since 2007, with he and current Blues major shareholder Farhad Moshiri buying a 14.58% stake in the north London club.

Today Usmanov owns 30% of Arsenal, with Moshiri having left the club in February 2016 to buy his shares in Everton.

The Russian has been involved in a bitter dispute with Arsenal majority shareholder Stan Kroenke for years, with both men disagreeing over which direction the club should be heading.

Usmanov, despite owning a major amount of shares in the London club, doesn't have a seat on the board.

Kroenke, who currently owns 67% of Arsenal, tried to buy out his rival for £525m back in October which was turned down.

Usmanov said at the time: “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.”

However, the Financial Times now believes the Russian billionaire is exploring the possibility of selling his shares in Arsenal.

The report claims he has grown frustrated at Kroenke's attitude over potential takeover talks and has given up all hope of trying to acquire the club outright.

Usmanov has been linked with a potential reunion with Farhad Moshiri at Everton in the past.

These rumours came to a head in 2017 when the billionaire's holding company USM entered into a five-year deal with the Blues for the naming rights of Finch Farm, reportedly worth over $15 million.

Panorama also investigated the Russian back in November 2017, with the BBC show looking into the "Paradise Papers" which claimed to contain information of Usmanov funding Moshiri's move for the Blues.

The investigation claimed that the original stake in Arsenal was in fact a "gift" from Usmanov, which they suggest raises the question that the Russian's money is now in Everton.

Moshiri's lawyers strongly deny that the money was a gift from Usmanov - and the Russian oligarch also denies that fact.

The Russian's representatives told Panorama: "He has no say, control or influence in the running of Everton Football Club.

"Our client does not and never has owned or controlled Everton."

There has been no suggestion from either Usmanov or Moshiri that they are set to team up again in the near future.

Premier League rules state that any individual with a 10% stake in any club cannot buy in to another.

But, if Usmanov were to sell up at Arsenal, speculation is almost sure to arise once more about a potential switch to Everton...