Date: 18th April 2007 at 5:54pm
Written by:

David Dein has resigned form Arsenal Football Club in an astonishing move.

A statement read.

Arsenal Holdings plc – Directorate change

Arsenal Holdings plc (the ‘Company’) announces that David Dein has left Arsenal Football Club and has ceased to be a director of the Company.

Peter Hill-Wood, Chairman of the Company, would like to express his gratitude for the many years of loyal service given by David Dein to Arsenal Football Club and regrets that irreconcilable differences between Mr. Dein and the rest of the board have necessitated a parting of the ways.

In light of recent speculation as to the ownership of the Company, the remaining Board members (together, the owners of 45.45% of the issued share capital of the Company) would like to reassure the shareholders, employees and fans of Arsenal Football Club that they remain long-term holders of their interests in the Company.

To this effect, they have entered into an agreement not to dispose of their interests in the Company for at least one year and have confirmed that they intend to retain their interests on the expiration of this period.

Arsenal Holdings Plc.18 April 2007

It is believe the departure followed after the rest of the board disagreed with Dein’s opinion that the board should sell up.

More to follow.