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Kroenke Ties Force Dein Out of Arsenal
The Guardian, April 19th, 2007 3:22PM

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The Arsenal takeover situation got a little more interesting on Wednesday after major shareholder David Dein, Arsenal's former vice chairman, vacated the club's board with immediate effect. Dein has been involved with the North London club for 24 years; he's also a prominent figure in European soccer politics, most recently chair of the G-14 group of Europe's major soccer clubs, a position he will now lose. A brief statement from Arsenal chairman Peter Hill-Wood said there were "irreconcilable differences between Mr. Dein and the rest of the board" that "necessitated a parting of the ways." Apparently, Dein didn't resign.

The Guardian claims "there is no question" those differences relate to American businessman Stan Kroenke's recent purchase of an 11.26 percent stake in Arsenal. Hill-Wood on Tuesday made it clear that he's adamantly opposed to a takeover, adding that at least three of the directors, who between them own 44 percent of the club, had "no intention" of selling to Kroenke. However, the agreement not to dispose of their shares lasts for only one year, according to the statement.

Now that Dein has left Arsenal, you can be sure Kroenke Sports Enterprises will be inquiring about Dein's remaining stake in the club. The Guardian believes that Dein had met with Kroenke and was more sympathetic to a potential sale.

Read the original story...



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