Arsenal closes ranks against outside investors

English Arsenal chairman Peter Hill-Wood decried the growing U.S. influence in the English Premier League, saying the foreign investors were getting involved for the wrong reasons.

Hill-Wood had a series of nationalistic comments after vice-chairman David Dein departed the Arsenal board abruptly, with "irreconcilable differences" cited as the reason. Whether Dein left because he did not like the amount of transfer funds available for the club, or whether it was because he supported U.S. tycoon Stan Kroenke's attempts to buy into the club still is open for debate.

But, from Hill-Wood's point of view, selling the club to foreign investors is not open to debate. After Kroenke bought more than a 9.9 percent stake in the club, Hill-Wood rallied investors to not sell their shares.

"Why don't we want the American at our club? Call me old-fashioned, but we don't need his money and we don't want his sort," Hill-Wood said. "Our objective is to keep Arsenal English, albeit with a lot of foreign players."

Hill-Wood's comments come after English clubs Aston Villa, Liverpool and Manchester United were bought by U.S. investors. Liverpool was up for grabs between a U.S. multi-millionaire and a consortium from Dubai.

While some of the investors may have their hearts in the right place, Hill-Wood questioned the motives of some, including Kroenke.

"Americans are buying up chunks of the Premiership football clubs and not because of their love of football but because they see an opportunity to make money," Hill-Wood said. "They know absolutely sweet (nothing) about our football and we don't want these type of people involved."

Hill-Wood's comments come right after Dein, who holds 14 percent of the shares in the club's parent company, departed. Dein's biggest contribution of late was bringing in manager Arsene Wenger in 1996.

"It's a huge disappointment because we worked very closely together," Wenger said.

Wenger said he was on good terms with the other club directors, but gave no clue as to whether he intends to extend his contract. Hill-Wood assured fans that Wenger would remain. Wenger is under contract until 2008, and Hill-Wood said he is hoping for an extension.

Dein's support of Kroenke's involvement pitted him against Hill-Wood. Hill-Wood said Dein's departure was not due to a lack of transfer funds available to Wenger.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.