Russian oligarch Alisher Usmanov is reportedly refusing to give up in his bid to become Arsenal's majority shareholder, despite being warned off by Stan Kroenke.

The 63-year-old failed in his initial attempt to increase his current 30% share to 67%, being knocked back by Kroenke who declined the £1bn offer on the table.

Kroenke broke his silence on Monday by claiming that his shares "are, and never have been, for sale", but Sky Sports News reports that Usmanov will meet with his advisors later this week to discuss his options.

Usmanov is said to be keen to increase his stake in order to turn the Gunners back into a title-winning force, which he believes can be achieved only once the club's current main shareholder is ousted.

Arsenal, who ended the Premier League campaign in fifth place, have an FA Cup final meeting with Chelsea to look forward to on Saturday.