Arsenal managing director Keith Edelman claims the
Gunners are in a 'very strong position' to reject a takeover bid
and do not need foreign investment.
Edelman has made his feelings clear following the announcement that
former Arsenal vice-chairman David Dein is to sell 14.58 per cent
share in the club.
Dein is set to sell to a company called Red and White, which is
jointly owned by Russian billionaire Alisher Usmanov and
London-based investor Farhad Moshiri.
However, Edelman believes Arsenal are already well placed to
compete with a number of other clubs in the Premier League who have
recently welcomed new foreign owners.
"The club is in a very strong position financially and you are
going to see that at the end of September when we release our
results," said Edelman.
"We have ample cash resources for the manager to invest in his team
and his squad. He was able to get all of his targets this year well
within his budget which means his budget will be increased next
year.
Financial
strength
"We are in a very good position, we realise David has sold his
shares to Red and White owned by Mr Usmanov, we note that but don't
believe it changes anything for Arsenal FC.
"The current shareholders on the board control over 45% of shares
and we believe the way the club is being run and the financial
strength of the club will come through.
"The club is in a very good position, and the stadium is producing
very large cash balances for us."
Edelman is also keen for Arsenal manager Arsene Wenger to commit
his future to the club.
"Arsene's a great manager and has produced outstanding teams,"
Edelman added.
"We think we are on the verge of another outstanding team of young
players and we would like Arsene to join with us in enjoying that
experience."