"Arsenal today announces that vice-chairman, David Dein has left Arsenal Football Club and ceases to be a director of the Club with immediate effect. Arsenal Chairman Peter Hill-Wood said: “On behalf of the Board I would like to express our gratitude to David Dein for the many years of loyal service he has given to the Club. We sincerely regret that irreconcilable differences between Mr. Dein and the rest of the board have necessitated a parting of the ways.” In light of recent speculation with regards to the ownership of the Club, the remaining Board members, who together own 45.45% of the issued share capital of the Company, would like to reassure the supporters, shareholders and employees of Arsenal Football Club that they remain long-term holders of their interests in the Club. To this effect, they have entered into an agreement not to dispose of their shares for at least one year and have confirmed that they intend to retain their interests on the expiration of this period." |
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It is thought that Dein favoured selling out to Kroenke and that Hill-Wood et al were against the idea. What worries me is that the "we're not selling" guarantee only lasts one year. What happens then?
Also, how can they retain their interests in the club once they've disposed of their shares?
It looks like a matter of time before the Americanisation of the Premiership continues and the last English club in the big four is engulfed.
Today is a sad day for all Arsenal fans.
