Usmanov owns 30 percent of the north London club and remains the second largest shareholder after Stan Kroenke, but does not have a seat on the board of directors.

After previously issuing an open letter in which he expressed his concern with regards to the running of the club and its ambition, he has again called for changes to be made.

"Our point of view on which direction the club is going today, and our disagreement with this direction, have been laid out in our open letter to the board," Usmanov told Forbes Magazine Russia.

"We do not consider just qualifying for the Champions League to be the chief ambition of the club, and with all our hearts we support the team and wish them well for the new season.

"Victory is absolutely not ruled out, but the current politics of the club's management will leave Arsene Wenger and his team with fewer and fewer opportunities in the long run."

Usmanov, who acquired David Dein's 14.6-percent share in the club in 2007, said it was never his intention to become involved in a heated rivalry with existing shareholders.

"Arsenal were one of the first teams I saw on television, and at that time I started supporting them," he said.

"I was introduced to David Dein by a mutual friend. At that time I was looking at a number of possibilities to invest in Premier League clubs, but the chance to buy a small shareholding in Arsenal outranked all other considerations.

"When I bought shares off David Dein I was happy with the opportunity to get to know the footballing legend which Arsenal represent. I was absolutely satisfied with this purchase and wanted to buy more shares in the club.

"At that time I never imagined the depth of conflict between the shareholders.

"I was also disappointed, and very much regretted, that Danny Fiszman, who at that time ran Arsenal, dealt with me on the basis of totally unobjective opinions and assertions of a few individuals."

The 58-year-old insisted, despite being unhappy with the club's position, he is not prepared to sell his own shares.

"We plan to continue to buy shares in the club," Usmanov said.

"From the point of view of investment, this has already been a successful policy: the value of the club has rise from £300-400 million to £700-800 million.

"But this is not the point. I am a fan and I am not going to sell these shares at any time, since this is the club that I consider the best in the world."