The 57-year-old, who is not an Arsenal director, even though he owns almost 30 per cent of Arsenal Holdings, believes self-interest among the board members is stymieing the Gunners' chances of on-field success.
Usmanov also claimed there would need to be a switch in emphasis if he were to end up on the board.
He said: "If the role of a board member is to oversee a trophyless period, while making significant personal profits and asking fans to pay inflation-busting ticket price increases then, no, I would not want to be on the board.
"If instead it is to try to deliver sustained success, to increase your personal investment in the club, to help develop the commercial position and to ensure the fans have a say in the running of the club then, yes, I think I certainly have something to contribute.
"In terms of doing things differently, let me give you a very clear example. Arsenal has all of its major commercial contracts coming up for renewal in the next couple of years.
"It's no secret that to maximise the value of those, you want to have success on the field and be winning trophies. To do that you need to invest now in building a winning team. This is simple commercial logic. Whether it comes to pass, we shall see."
Arsenal's season collapsed in spectacular fashion following their Carling Cup final defeat to Birmingham in February, with their challenges in the Champions League, FA Cup and Premier League all crumbling in the wake of that Wembley reverse.
Usmanov is of the opinion that manager Arsene Wenger needs to be given the financial backing to bring in experienced players to complement the crop of talented youngsters the club have at their disposal.
"There is a widely-held view among most commentators - and one that I agree with - that the club needs to stiffen the defensive spine of the team, with a dominant keeper, strong centre-halves and a powerful defensive midfielder in the mould of Claude Makelele," he said.
"The Premier League is one of the most competitive in the world and while we have consistently challenged for honours, the club needs to develop talent and buy top-class players to win the trophies we all crave. This requires greater investment which, I believe, has been lacking thus far.
"What however is not clear is whether the board shares this view. For too long they have seemed happy to sanction second, third and fourth as being acceptable, while at the same time they are planning to sell their shares."
l Inter Milan midfielder Wesley Sneijder has left the door open for a move away from the San Siro this summer despite pledging his commitment to the club three days ago.
The 27-year-old Netherlands international said on Friday that he was happy in Milan and saw no reason to leave the Serie A runners-up, but in an interview with Gazzetta dello Sport he indicated that his future was not yet set. He told the Italian newspaper: "The Inter fans have always treated me very well. They were wonderful and I want to simply thank them.
"Only God will decide where my future lies."