News Alerts
Headlines
Hill-Wood insists that Arsenal is not for sale
England - 12 September, 2007
Adjust font size:
Peter Hill-Wood, English Arsenal chairman, said he would not talk to Russian billionaire Alisher Usmanov regarding the sale of the club.
Former Arsenal vice-chairman, David Dein, who sold his shares to Usmanov, heads a company that wants to buy a significant stake in the Arsenal.
"The major shareholders have no intention of selling and wouldn't welcome an offer. But we will have a dialogue with any principal or major shareholder," Hill-Wood told BBC Sports. "If they've got some sensible proposals we'll listen to them."
Hill-Wood's thought to the possibility of talks with Dein was somewhat different.
"I see no major point in that, I've had 25 years of listening to him," said Hill-Wood.
Dein left Arsenal after Hill-Wood and the other board members rejected his attempts to bring in investment from American billionaire Stan Kroenke.
Dein became chairman of Red and Whilte Holdings Ltd. after he sold his 14.58 percent stake in Arsenal for GBP 75 million to the company that is co-owned by Usmanov and business partner Farhad.
He also maintained the club would not be able to compete with the likes of English clubs Chelsea, Manchester United and Liverpool without major foreign investment.
But Hill-Wood insisted the Arsenal board's strategy of fiscal caution was the correct way to go.
"I have no objection to foreign investors coming into the Premier League; it's going to be beneficial," said Hill-Wood.
"Most of them are investment people and they're not buying into clubs because they have the passion for the local club they have supported since they were two years old.
"They think that football and the Premier League is an attractive investment and they want a return on that. That will work in our favour. There will be a more sensible attitude in transfer fees at silly levels and all this sort of thing.
"People putting GBP 100 million in are going to want to see how they can make a profit. To go on paying more to players is not justified or sensible. We have always run Arsenal as a business and kept within reasonable bounds," Hill-Wood added.
"All this nonsense about needing a billionaire to put a whole lot of money in to help shore up the annual deficit is not going to happen. It's lunacy."
Former Arsenal vice-chairman, David Dein, who sold his shares to Usmanov, heads a company that wants to buy a significant stake in the Arsenal.
"The major shareholders have no intention of selling and wouldn't welcome an offer. But we will have a dialogue with any principal or major shareholder," Hill-Wood told BBC Sports. "If they've got some sensible proposals we'll listen to them."
Hill-Wood's thought to the possibility of talks with Dein was somewhat different.
"I see no major point in that, I've had 25 years of listening to him," said Hill-Wood.
Dein left Arsenal after Hill-Wood and the other board members rejected his attempts to bring in investment from American billionaire Stan Kroenke.
Dein became chairman of Red and Whilte Holdings Ltd. after he sold his 14.58 percent stake in Arsenal for GBP 75 million to the company that is co-owned by Usmanov and business partner Farhad.
He also maintained the club would not be able to compete with the likes of English clubs Chelsea, Manchester United and Liverpool without major foreign investment.
But Hill-Wood insisted the Arsenal board's strategy of fiscal caution was the correct way to go.
"I have no objection to foreign investors coming into the Premier League; it's going to be beneficial," said Hill-Wood.
"Most of them are investment people and they're not buying into clubs because they have the passion for the local club they have supported since they were two years old.
"They think that football and the Premier League is an attractive investment and they want a return on that. That will work in our favour. There will be a more sensible attitude in transfer fees at silly levels and all this sort of thing.
"People putting GBP 100 million in are going to want to see how they can make a profit. To go on paying more to players is not justified or sensible. We have always run Arsenal as a business and kept within reasonable bounds," Hill-Wood added.
"All this nonsense about needing a billionaire to put a whole lot of money in to help shore up the annual deficit is not going to happen. It's lunacy."
Source: euFootball.BIZ © Copyright 2006 -
All rights reserved.
© Copyright message
The copying, republication, redistribution or web posting (including by framing or similar means) of this content is expressly prohibited without the prior written consent of euFootball.BIZ
-
Finance
Television
Sponsorship
Marketing
Technology
Competitions
Clubs
Stadia-Facilities
Legal
Administration