Arsenal shares have traded for a new record price, which seems to be in anticipation of Alisher Usmanov selling his stake in the club.

On March 20th, two shares went for £37,000, almost £20,000 more than the share price at this time last year, according to the NEX Exchange.

Tuesday’s Daily Mail wrote that it appears small investors are buying and selling ahead of Usmanov potentially dumping his 30 per cent stake in the club on the market, if the political situation between the UK and Russia gets even worse.

Usmanov’s reported interest in other football clubs is also giving shareholders reason to believe a change might be on the horizon. Football-italia wrote that the 64-year-old is considering buying AC Milan or Spanish side Sevilla.

The billionaire’s representatives responded to the article to state he has no plans to buy Milan. Still, the speculation is clearly affecting the market.

If investors think Usmanov might sell, whether to move onto a new club or because of the current political tensions, they know someone will bid for his Arsenal stake. The person who does so could launch a takeover bid, giving those small shareholders immediate return on their investment.

The result is that Arsenal Holdings plc is now worth more than ever, at £2.147bn.