Kroenke and Arsenal - The Board Fights Back!
By: Clint | April 19th, 2007In today’s Guardian, all that I once held to be true has been turned on its head. Beckham NOT coming to Los Angeles. Global warming DOESN’T exist. And most important of all - David Dein (the director and majority shareholder of Arsenal for nearly a quarter of a century) did not resign… instead it appears he was pushed out! Scandal! Intrigue! Another dull story about rich old white men fighting one another over even more money!
It now appears (to me, since I had the situation reversed in my head yesterday) that Dein did not leave Arsenal in protest of a potential sale to Kroenke (and the horrors of watching the club “go across the Atlantic” the same way Aston Villa, Man U, Liverpool, and Chelsea - well, you get the idea - have in the recent past), but rather he was “forced out” as a result of his possible support of such a deal. Wild times! But rest assured that unlike the players, manager, and strategy, the owners (and lets be real, isn’t that the only group that Arsenal fans care about - the owners of the club) wont turn foreign. Whew!
Money quote from the Guardian’s article:
Pointedly, Hill-Wood did not say he had talked to Dein. In fact, it is believed Dein had met Kroenke and was more sympathetic to a sale and potential investment by the American in the club. Hill-Wood was also known to be furious that Kroenke bought ITV’s 9.9% stake in Arsenal a fortnight ago and further shares in the club without formally talking to the board first. According to club sources, the other directors felt the resulting instability caused by speculation about a Kroenke takeover was “not Arsenal’s way of doing things”.
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Hill-Wood has long been bitter he sold most of his shares to Dein before the Premiership went nuts, costing him many, many millions. I guess it was payback time.
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