Alisher Usmanov saw his £1billion takeover bid for Arsenal rejected by majority owner Stan Kroenke.
But who are Usmanov and Kroenke? Why did the Uzbek businessman make the bid and why are Arsenal so valuable? And what would it all mean for Arsene Wenger's future at the Emirates?
Sportsmail answers all of those questions and more in a handy guide to the ownership situation at the club.
Who is Alisher Usmanov?
Alisher Usmanov is a metals magnate from Uzbekistan, although he has primarily been based in Russia.