There will be no takeover of Arsenal football club according to chairman Peter Hill-Wood, who has revealed the rift between David Dein and the rest of the club board, ‘has been festering for some time’.
Hill-Wood said any move by Dein and US billionaire Stan Kroenke to take over the north London club would be blocked.
"Let's be truthful, the rift with David Dein has been festering for some time, although nothing sufficiently as bad as this to make it impossible to continue. We had an idea he was in league with Kroenke and the board did not know what was going on. We put two and two together and came up with the right answer."
He continued: "When ITV sold their shares they called me half an hour before the announcement to tell me,"
"That's not right. I asked David Dein if he knew Kroenke and after hesitating he simply said 'Yes'. We suspected that he knew Kroenke far more than he was letting on and we came to the conclusion eventually that he knew him a lot more.
"Call me old-fashioned but we don't need Kroenke's money and we don't want his sort. Our objective is to keep Arsenal English, albeit with a lot of foreign players. I don't know for certain if Kroenke will mount a hostile takeover for our club but we shall resist it with all our might.
"We are all being seduced that the Americans will ride into town with pots of cash for new players. It simply isn't the case. They only see an opportunity to make money. They know absolutely nothing about our football and we don't want these types involved."