Dein leaves Gunners post

18 April 2007 06:50
Arsenal have announced that long-serving vice-chairman David Dein has left the club with immediate effect. Dein's departure comes amid speculation of a possible takeover of the Gunners, with American billionaire Stan Kroenke having purchased around a ten per cent stake in Arsenal. A club statement read: "Arsenal today announce that vice-chairman David Dein has left Arsenal Football Club and ceases to be a director of the club with immediate effect. "In light of recent speculation with regards to the ownership of the club, the remaining board members, who together own 45.45 per cent 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." Gunners chairman Peter Hill-Wood added: "On behalf of the board I would like to express our gratitude to David Dein for the many years of loyal service he has given to the club. "We sincerely regret that irreconcilable differences between Mr Dein and the rest of the board have necessitated a parting of the ways." Dein joined the Gunners board well over 20 years ago and was once vice-chairman of the Football Association.

Source: ESA