Usmanov on the fence

Mr Usmanov, the Russian billionaire who holds quite a lot of Arsenal shares but who seems to have stopped trying to buy the whole club has returned to his earlier lover of fencing.

He has announced that once again he will contest the election to be president of the International Fencing Federation. 

If he were to win he could then have a seat on the International Olympic Committee.

The current President is René Roch.  Mr Usmanov says he will get a lot of support from European, Central and South American fencing federations.  

If this is so it is likely that Mr Usmanov will either sell off his Arsenal holidays or leave them sitting there waiting for an upturn in share prices and then sell at a later date.  It seems that this storm has been weathered.