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Last Updated: Monday, 23 July 2007, 16:51 GMT 17:51 UK
Arsenal shareholder stands firm
Arsenal
Arsenal's biggest shareholder Danny Fiszman says he has "no intention" of selling his stake in the Gunners.

Fiszman has a 24.11% holding and added he would not be relinquishing his shares in the "forseeable future".

He said: "There are exciting times with the team showing much promise. We are energised by what the future holds."

Fiszman's announcement follows managing director Keith Edelman's claim that any potential investor would take more money out of the club than they put in.

With speculation rife that American billionaire Stan Kroenke will launch a takeover bid, Edelman reiterated the board's opposition to such a move.

He said: "Anybody who invests in a club, particularly from overseas, will want financial returns.

"Some other clubs with billionaire owners, their debts are mounting up."

606: DEBATE

Kroenke, who currently owns just over 12% of the club's parent company, is thought to be keen to increase his financial involvement, and Formula One supremo Bernie Ecclestone has refused to rule out a takeover of the Gunners.

And while Edelman insists the board "welcome" Kroenke as a shareholder, he added: "That is the beginning and the end of the story at this juncture.

"I think the current shareholders have committed themselves to the club and believe in the club.

"Our current shareholders have been incredibly generous with the club and haven't taken a dividend for very many years.

We are quietly confident that Arsene will remain the manager for a few years to come

Arsenal managing director Keith Edelman

"I just want to make sure that fans really do understand that if a billionaire buys any club in the country, it doesn't automatically mean that they're going to have success or be able to invest further sums in the squads.

"What is really important is that the business runs from the funds that it generates itself.

"Part of my job is to make sure that we generate the maximum amount of revenue that we can so that we can invest in the squad."

Meanwhile, Edelman is convinced manager Arsene Wenger, who is out of contract at the end of the season, will extend his stay at the club.

He said: "We are quietly confident that Arsene will remain the manager for a few years to come. We are in constant contact with him and are awaiting his decision.

"Hopefully he will inform us that he is going to stay. He has brought some great football and a lot of honours but we would like some more under him."

SEE ALSO
Kroenke eager for Arsenal talks
19 Jul 07 |  Arsenal
Kroenke increases Arsenal stake
20 Apr 07 |  Arsenal
Wenger to pick football director
22 Apr 07 |  Arsenal


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