Edelman steps down at Arsenal

English Arsenal managing director Keith Edelman will resign his post at the club, but will stay with Arsenal for a year to ensure an easy transition.

Edelman has been with the club for eight years. He said after completing the second season at Emirates stadium, he thought the timing was right to leave.

Edelman's tenure at the club included the move to Emirates and record profits for Arsenal. The club has been successful despite Edelman's low-key approach to investing.

"It has been a very exciting period and I am proud to have contributed to the club's many off-field achievements over the past eight years, not least the Emirates Stadium project," Edelman said. "Now that we have completed our second season at Emirates, I believe it is the right time to seek pastures new and embark upon fresh challenges."

Former managing director Ken Friar, who held the post for 18 years, will act as interim managing director. A search is on for a more permanent occupant.

"Under Keith's stewardship the club has achieved record profits and the board owes him a debt of gratitude for his contribution," chairman Peter Hill-Wood said. "We wish him the very best for the future."

The news of Edelman's departure even caught Uzbek magnate Alisher Usmanov off guard. Usmanov has been trying to build up a solid stake in the club, and now has 24 percent.

With Edleman stepping aside, expect rampant speculation of possible takeover attempts.

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