DEIN LEAVES ARSENAL POST
Arsenal vice-chairman David Dein has left the Barclays Premiership
club with immediate effect.
The former Football Association vice-chairman and current chairman
of the G14 group has left his post due to irreconcilable
differences with the rest of the board, according to chairman
Peter Hill-Wood.
Hill-Wood told official club website www.arsenal.com: 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.
Dein was behind the appointment of the then little-known French
coach Arsene Wenger to the manager's job in 1996.
The pair remain close friends, with the Gunners having enjoyed
unprecedented success in the last decade with three Premier League
titles and four FA Cup wins.
Arsenal reached the Champions League final last season, losing to
Barcelona in Paris, but have struggled to sustain such success this
term.
A run to the Carling Cup final was followed by an early exit from
both the FA Cup and then Champions League.
However, successive wins have put the Gunners back on track to
finish in the top four again and with it secure elite level
European football at the £357million Emirates Stadium.
A club statement also confirmed the remaining board members have
agreed to retain their shares for at least one year, also with
the intention of keeping them beyond that period.
The statement read: In light of recent speculation with regards to
the ownership of the club, the remaining board members, who
together own 45.45 per cent 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.
Earlier this month ITV plc announced that they had unconditionally
sold their 9.99 per cent shareholding in Arsenal Holdings plc to
American Stan Kroenke's KSE UK INC.
Kroenke Sports Enterprise have also co-owned American Football
franchise St Louis Rams following their relocation to Missouri,
while NBA side Denver Nuggets and the NHL's Colorado Avalanche are
now too under the group's umbrella.
Both Dein and fellow director Danny Fiszman had previously stated
their intention to keep their shares.
