News of the World says Usmanov has been advised not to go ahead with a takeover of the Premier League side.
Usmanov has a 24.9 per cent stake in the Gunners.
Arsenal fans will be delighted to hear the news after they last year marched against Usmanov with a ‘Love Arsenal – Hate Usmanov’ banner.
Reports earlier this year claimed directors Danny Fiszman and Lady Nina Bracewell are also ready to sell their stakes in the club.
