Arsene Wenger looked worried at his weekly press conference yesterday. The usual swagger that normally accompanies Arsenal’s most successful manager since Herbert Chapman deserted the Frenchman as he entered the Arsenal Press office. Just hours earlier, Stan Kroenke, the American businessman who owns three sports teams in the US across three sporting codes, quietly increased his shareholdings in the London club to 12 per cent. Kroenke Sports Enterprises previously held over 10 per cent after buying up ITV’s shares in the club last month.
Kroenke’s arrival at the Emirates Stadium has had a devastating effect upon the Arsenal board. On Thursday David Dein, the Arsenal Vice Chairman since 1988, who was instrumental in bringing Arsene Wenger to the club was effectively sacked after ‘irreconcilable differences’ between him and other board members made his position untenable. Peter Hill wood, the Arsenal Chairman, has refused to explain the specific reasons for Dein’s sudden departure, but there is no doubt that his abrupt dismissal is linked to Kroenke’s rising strength within the boardroom. It is no secret that Dein would like to see Kroenke play a ‘bigger role’ in the club. In other words, he supports an American takeover. But this put him at odds with the Arsenal chairman and the other major shareholders at the club who want to hold onto their shares. Hill-Wood dismayed ‘I would be horrified to see ownership of the club go across the Atlantic’. But this is just what has happened recently in Manchester and Liverpool. Neither Manchester United nor Liverpool fans were happy to see their club fall into the hands of American ownership, but it is rare to hear members from either set of fans complain about the finanical advantages that these wealthy tycoons bring with them. Millions of pounds have been and will be spared for new players The finanical advantages brought to one of Arsenal's rivals, Chelsea, by their Russian owner Roman Abramovich are obvious, and a source of jealousy for Gooners.
Dein, it seems, is worried about Arsenal’s long term competitiveness. Although the new Emirates stadium generates around one million pounds extra per match than the old, much smaller Highbury did, the large sclae constructction of the giant glossy stadium has left Arsenal Football Club in hundreds of millions of debt. There is no doubt that Arsenal will not be able to compete with the rest of the ‘big four’ come this summer in the transfer market. Dein knows an American takeover would result in huge investment in the club, and allow Arsene Wenger to complement his exciting, but young squad, with ‘big’ names to compete for the Premiership title.
Kroenke’s arrival at the Emirates Stadium has had a devastating effect upon the Arsenal board. On Thursday David Dein, the Arsenal Vice Chairman since 1988, who was instrumental in bringing Arsene Wenger to the club was effectively sacked after ‘irreconcilable differences’ between him and other board members made his position untenable. Peter Hill wood, the Arsenal Chairman, has refused to explain the specific reasons for Dein’s sudden departure, but there is no doubt that his abrupt dismissal is linked to Kroenke’s rising strength within the boardroom. It is no secret that Dein would like to see Kroenke play a ‘bigger role’ in the club. In other words, he supports an American takeover. But this put him at odds with the Arsenal chairman and the other major shareholders at the club who want to hold onto their shares. Hill-Wood dismayed ‘I would be horrified to see ownership of the club go across the Atlantic’. But this is just what has happened recently in Manchester and Liverpool. Neither Manchester United nor Liverpool fans were happy to see their club fall into the hands of American ownership, but it is rare to hear members from either set of fans complain about the finanical advantages that these wealthy tycoons bring with them. Millions of pounds have been and will be spared for new players The finanical advantages brought to one of Arsenal's rivals, Chelsea, by their Russian owner Roman Abramovich are obvious, and a source of jealousy for Gooners.
Dein, it seems, is worried about Arsenal’s long term competitiveness. Although the new Emirates stadium generates around one million pounds extra per match than the old, much smaller Highbury did, the large sclae constructction of the giant glossy stadium has left Arsenal Football Club in hundreds of millions of debt. There is no doubt that Arsenal will not be able to compete with the rest of the ‘big four’ come this summer in the transfer market. Dein knows an American takeover would result in huge investment in the club, and allow Arsene Wenger to complement his exciting, but young squad, with ‘big’ names to compete for the Premiership title.
Fans are worried too. The two American businessmen who recently acquired the purchase of Liverpool, with whom Arsenal are vying with for third place, have promised to flaunt their wealth by spending extravagantly in the close season on new players. Some fans are questioning the board’s reasoning. If Arsenal are currently fourth in the league, way behind the top two in terms of points, how will they perform next year if the financial gap between them and the top is clubs is going to increase.
Since Dein became Vice chairman in 1988, he has done more than most at Arsenal in transforming the London club into one of world football’s most successful and most supported clubs. Wenger often speaks of Dein’s endeavours in helping create an exciting squad that consists of some of Europe’s most sought after youthful talent. Both Dein and Wenger accept however, that in order to compete with England’s and Europe’s top sides more investment is needed to bolster Arsenal’s young squad. This can only come in the form of Kroenke’s amassed millions and his profitable Sports Enterprises company.
If Arsenal fans want Dein to return to the club, I suspect they will not be disappointed. It is likely the ex-Chairman will launch a joint bid with his ally Kroenke in the near future. If successful, Dein would most probably assume the role of chairman and continue to build on the accomplishments he has already achieved at the club he clearly adores. As an Arsenal fan myself, let’s hope we haven’t heard the last of this saga yet.
Joseph Lappin
21/04/07
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