Dein, who stepped down in May following a disagreement with the rest of the board over the merits of encouraging a wealthy American investor, sold his 14.58 per cent stake for £75 million to a company called Red and White.
Red and White is jointly owned by Russian businessman, Alisher Usmanov, and Farhad Moshiri, a London-based investor. But Dein will become its chairman. Funds have been committed to buy more Arsenal shares, although Dein insists there is no "current intention" to try to take over the entire club.
Copyright (c) PA Sport 2007, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms