Arsenal could be the next to succumb to the Middle East
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Arsenal chairman Peter Hill-Wood would consider Middle East takeover
Arsenal could be the next Premier League club to succumb to the riches of the Middle East after their chairman Peter Hill-Wood admitted the club would consider a large takeover bid if presented to them.
Open season: Arsenal chairman Peter Hill-Wood (right), with manager Arsene Wenger, believes the club's directors would consider a prospective bids from the Middle East.
It was reported at the weekend that the north London club were on the shortlist of the Abu Dhabi United Group before the Arab based investors, lead by Dr Sulaiman al Fahim, decided to shift their interest to Manchester City instead with a £210 million takeover.
While Hill-Wood stressed that the current board of directors at The Emirates do not wish to sell their shares, particularly to fellow shareholder Alisher Usmanov, he did concede that a serious offer would, inevitably, be considered.
"If somebody came and made a really huge bid then you cannot recommend shareholders turn it down because we don't like it," revealed Hill-Wood.
"We want the club the stay in its current ownership and, of course, you have some concern that someone will try to buy the club.
"The directors don't want to sell but we are a public company. It depends on the price."
Arsenal are valued at an estimated £300 million but the club's board have a current agreement in place to fend of any interest from Uzbekistan billionaire Usmanov, refusing to sell any further shares to the oligarch until 2012.
Usmanov's Red and White Holdings company currently own 24.9 per cent of shares in the club and could mount a formal takeover bid should their stock rise to above 30 per cent.
However, the resignation of David Dein, the former Arsenal vice-chairman who fronted Usmanov's investment vehicle after selling his 14 per cent stake to the Russian 18 months ago, coupled with Hill-Wood's admission could soon intensify the battle to take control of Arsenal.
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they can sell to emirates
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no need see youngsters alr...
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dont sell away the club pls, this is wat make us more unique from others :D
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between being unique and a winner, i think many would choose the latter.....the coming seasons would see the 2 manchester and chelsea securing top 3, leaving arse and pool to fight it out....
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sell before ending up like liverpool - 18 yrs without a premiership title.
its all about financial back up in the EPL now.