Arsenal chairman Peter Hill-Wood has launched a stinging attack on American billionaire Stan Kroenke, who has been linked with a hostile takeover bid for the Gunners.
The stand-off with Kroenke saw vice-chairman David Dein leave the club earlier this week after a disagreement with the rest of the Gunners board, but Hill-Wood is determined to stand his ground.
He told the Daily Express: "I don't know for certain if Kroenke will mount a hostile takeover, but we shall resist it with all our might.
"I am not complacent at all, but we don't need his money and I'll tell you why. Everyone talks about our new stadium as a handicap to finance for new players, but the move to the Emirates is well-funded.
"Everyone thinks it has created a huge deficit, but it hasn't as we have a massive asset on a 25-year fixed-rate loan.
"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.
"Americans are buying up chunks of Premiership football clubs and not because of their love of football, but because they see an opportunity to make money.
"They know absolutely sweet FA about our football and we don't want these type of people involved."
Meanwhile, Arsenal boss Arsene Wnger has cooled speculation calling his own future into doubt following the exit of his close ally Dein.
He told the club's official website: "It's a huge disappointment because we worked very closely together, but my position is that I am linked with the club very strongly.
"My relationship with the rest of the board has always been very good and we try always to have a good understanding."