DAVID DEIN has left Arsenal today due to “irreconcilable differences” with the other directors
On the same day that The Guardian’s David Conn wrote a story quoting chairman Peter Hill-Wood saying that he, Danny Fizsman, Lady Nina and the Carrs would be horrified if the ownership of the club ever passed across the Atlantic, we hear the news just after 6pm on Wednesday : David Dein has left the club.
As you know, Dein brought George Graham to Arsenal in 1986 and he brought Arsene Wenger to the club in 1996.
There was an executive vacuum at Arsenal before he joined the board in 1983 and Dein soon became vice-chairman. Before that the club had been run by Ken Friar, the Secretary, as it had been run by previous Secretary Bob Wall for decades.
David Dein made Arsenal more ambitious and he proved to be smarter than his friend Irving Scholar had been at Tottenham.
Arsenal is the most important thing in Dein’s life, apart from his family. His priority was always to spend money on the team, wherever possible.
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.”
For at least one year ? Bear in the mind that Arsene Wenger’s contract was extended in October 2004 and runs till May 31, 2008.
One wonders : Is this really a resignation?
Is it goodbye or au revoir?
Does David Dein, whose wife Barbara is American, plan to come back if Stan Kroenke eventually takes over ?
The next few months will be interesting !
Dein was at the game last night, when Arsenal beat Manchester City 3-1, so this has obviously come to a head in the last few hours.
My guess is that Dein wanted to explore the possibility of asking Stan Kroenke to make an investment in the team.
Money for the team is badly needed. But obviously the board did not want to go down that road, or even think about it.
Since the club went into debt to build the Emirates, Arsene Wenger has been given an overall budget. A total sum he can spend on wages and transfers. And he is a prudent money manager. Always has been.
His squads have been thin for a decade. In that, he is a bit of a masochist. He knows he might suffer, and take flak, but he would rather suffer than spend irresponsibly.