Peter Hill-Wood’s statement is a recipe for Arsenal instability.
How can the directors say they won’t sell for a year?
No serious business puts out statements like that. It’s a pathetic and imbecilic statement.
How can you say, “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.”
We own 45% and we’re not selling because it’s an English institution that’s been in my family since 1930 ?
Please ! Get real ! In the world we now inhabit, Arsenal directors can’t say : We’ve agreed not to dispose of our shares for one year.
WHAT KIND OF SIGNAL IS THAT STATEMENT ?
Does it generate stability at the club that prides itself on being the most stable in English football ?
Of course not. The statement is a massive own-goal. Peter Hill-Wood is a smashing bloke, I love him dearly, but this statement goes too far, says too much, and betrays a big company that turned over more than £100 million in the last six months.
FACT : On Tuesday, season ticket holders got their renewal letters : Dear Joe Bloggs, Thanks for your support this season. Please send us a cheque for £1,800.
FACT : On Wednesday, David Dein’s gone !
The guy who does the deals has left Arsenal. The guy who goes out and fights the crooks and sharks in France, Italy, Holland, Spain and Brazil and comes back with the footballers.
Who will do that job now? Not Peter Hill-Wood, you can be sure. Not Keith Edelman either.
After a statement like this, how can Arsenal go to Samuel Eto’o and say : Join our club, sign till 2011 – but we might have new owners in 2008.
Arsenal are a big club with a cheap young team that is uncompetitive. The team needs money. The team needs new faces who can excite the 60,000 punters by scoring spectacular goals like Ronaldo, Rooney and Drogba score.Without that investment, the Big Four will become the Big Three and Arsenal will be chasing fourth place every year, as they did in 2006 and 2007.
THIS MESSY SITUATION will not last till June 2008.
No way will this take till 2008, I’ll bet my house on that.
David Dein can sell his 14.5 % to Stan Kroenke, who already has 11.26%, so Kroenke will then have 25.76 % of the company.
He would have more shares than Danny Fiszman.
He would be Arsenal’s biggest shareholder.
Then Kroenke can appoint a director to the board.
He can appoint David Dein to represent his interests.
This year we heard that Danny Fiszman and David Dein were not on speaking terms.
Now the Fiszman-Dein divorce will lead to a Kroenke-Dein alliance and Kroenke can buy another 5% from Landsowne Partners, the hedge fund, if they have 5%. They have been acquiring shares for just this eventuality.
With 30%, Stan Kroenke has to make an offer for the whole club.
On Wednesday, another 216 shares changed hands.
Fasten your seatbelts, chaps : this is shaping up like a hostile takeover that could see Arsenal sold for £600 million.