Alisher Usmanov will not be making any bid to buy southeast London soccer club Charlton Athletic, a spokesperson for the Russian businessman's press team told CNBC, contrary to reports in the British media Friday morning.
Last month Usmanov sold his 30 percent stake of English Premier League side Arsenal to majority shareholder Stan Kroenke, as announced to the London Stock Exchange.
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That transaction has now been completed, but despite speculation he will reinvest in another soccer club, it won't be Charlton, who play in the third tier of the English leagues.
Charlton has not played in the Premier League since 2007 and has faced serious financial problems in recent seasons. It is currently owned by Belgian millionaire Roland Duchatelet, who is said have put the club up for sale for around £20 million ($26 million).
Usmanov has reportedly received over $500 million for his Arsenal shares, but despite tabloid speculation he'll be putting his money elsewhere in English soccer, he isn't going to make any offer for Charlton.