Camden New Journal - Sports: Dein quits Arsenal citing irreconcilable differences

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Camden New Journal - by STEVE BARNETT
Published: 19 April 2007

Dein quits Arsenal citing irreconcilable differences

Gunners’ vice-chairman leaves board with immediate effect

ARSENAL fans were left stunned last night (Wednesday) when vice-chairman David Dein left the club with immediate effect because of “irreconcilable differences” with the rest of the board.
The shock development comes within hours of club chairman Peter Hill-Wood moving to dispel fears that Arsenal were about to agree a sale to American billionaire Stan Kroenke.
Dein, who first joined the Gunners’ board back in 1983, has been the leading architect of Arsenal’s resurgence in the modern era, perhaps most notably bringing Arsene Wenger to the club in 1996.
In a statement on the club’s website, Hill-Wood said: “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.”
American businessman Kroenke has bought 9.9 per cent of Arsenal and more shares from major stakeholder Danny Fiszman, sparking a wave of takeover talk surrounding the club.
But Hill-Wood played down the speculation, revealing that the remaining board members, who own almost half of the remaining shares, had agreed not to dispose of their shares for at least one year.
“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,” the rest of the statement read.
“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.”

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