ARSENE WENGER will join forces with the Russian revolution as the battle of Gunnerski began yesterday.
Former Arsenal vice-chairman David Dein sensationally sold his shares to Russian steel mogul Alisher Usmanov and his Iranian partner Farhad Moshiri.
Usmanov, worth a cool £4billion, and Dein will now trigger a takeover battle to seize control of the club and their first ally will be Comrade Wenger, who is now expected to sign a new deal to carry on as manager at the Emirates.
Dein sold his 14.58 per cent stake in the club to Usmanov and Moshiri’s company — Red and White Holdings Ltd — for £75million.
But his decision was not welcomed by Arsenal’s board members, who will fight to resist the revolution.
Managing director Keith Edelman stressed: “They own SOME shares in Arsenal FC.
“That gives them very few rights in terms of involvement in the clubs affairs. I don’t think they’re that involved.”
And Edelman insisted Arsenal did not need any new investors.
He said: “The club is in an incredibly good position financially.
“We are very strong and you will see that at the end of September, when we produce our results.
“We have ample cash resources for the manager to invest in the team.
“The current shareholders and board control over 45 per cent of the shares and that is the largest interest.
“We believe the way the club is being run and the financial strength will come through.”
Dein, 63, left the Arsenal board in April over his support for the takeover plans of US tycoon Stan Kroenke.
But he is determined to fight his way back to power at the Emirates.
And he claimed: “Despite the fantastic work of Arsene Wenger, I fear that without new investors Arsenal might very soon not be able to compete successfully at the very top level.”
Yet Dein denies suggestions that Red and White will now team up with Kroenke to make a hostile bid.
Their combined shareholdings now amount to 26.77 per cent.
And a 29.9 per cent holding would automatically trigger a takeover bid under Stock Market rules.
Former Arsenal vice-chairman David Dein sensationally sold his shares to Russian steel mogul Alisher Usmanov and his Iranian partner Farhad Moshiri.
Usmanov, worth a cool £4billion, and Dein will now trigger a takeover battle to seize control of the club and their first ally will be Comrade Wenger, who is now expected to sign a new deal to carry on as manager at the Emirates.
Dein sold his 14.58 per cent stake in the club to Usmanov and Moshiri’s company — Red and White Holdings Ltd — for £75million.
But his decision was not welcomed by Arsenal’s board members, who will fight to resist the revolution.
Managing director Keith Edelman stressed: “They own SOME shares in Arsenal FC.
“That gives them very few rights in terms of involvement in the clubs affairs. I don’t think they’re that involved.”
And Edelman insisted Arsenal did not need any new investors.
He said: “The club is in an incredibly good position financially.
“We are very strong and you will see that at the end of September, when we produce our results.
“We have ample cash resources for the manager to invest in the team.
“The current shareholders and board control over 45 per cent of the shares and that is the largest interest.
“We believe the way the club is being run and the financial strength will come through.”
Dein, 63, left the Arsenal board in April over his support for the takeover plans of US tycoon Stan Kroenke.
But he is determined to fight his way back to power at the Emirates.
And he claimed: “Despite the fantastic work of Arsene Wenger, I fear that without new investors Arsenal might very soon not be able to compete successfully at the very top level.”
Yet Dein denies suggestions that Red and White will now team up with Kroenke to make a hostile bid.
Their combined shareholdings now amount to 26.77 per cent.
And a 29.9 per cent holding would automatically trigger a takeover bid under Stock Market rules.