'Stan believes in the Club's philosophy'

Ivan, there has been a significant move in Arsenal's shareholding today. Can you explain what has happened?

Yes. Danny Fiszman, who is a long-time member of our Board, has sold 5,000 of his shares to Stan Kroenke, who joined the Board in September. That represents about eight per cent of Arsenal Football Club and takes Danny’s holding down to 16 per cent and Stan’s goes up to around 20 per cent.

Will this transaction have an impact on the day-to-day running of the Club?

No, it’s business as usual. It’s a transaction between two Board members, both of whom believe in the philosophy of the Club, the self-sustaining philosophy on a day-to-day level. It has absolutely no impact at all.

The team, of course have been doing particularly well recently, we are unbeaten in 16 league matches, through to the Champions League Quarter-Finals and FA Cup Semi-Final. Does this share purchase have an impact of the playing side of the Club at all?

No, it is the same story on the playing side. On the business side, we remain doing business just as we were yesterday - I remain focussed on the business side. And on the playing side it is exactly the same. Arsène Wenger and the players are very focussed on the end of this season. As you point out, we are in three very important competitions and making some progress, so we’re hoping for a good end to the season.

Stan Kroenke is now the majority shareholder on the Board. Will he now have a greater say in steering the Club forward?

Stan has been an acting participant since coming onto the Board in September. He is someone I have known since 2003 when he became a member of Major League Soccer’s board – I used to work at Major League Soccer. He is really a model owner, he is an owner in a number of different US sports leagues. He takes a long-term view and he believes in the model that Arsenal is being run on, that of self-sustainability. He has developed a good relationship with the other members of the Board. I think the fact that Danny has felt comfortable selling his shares to Stan speaks volumes. This is somebody that shares the same philosophy as the current Board and will be influential as we go forward.

Do you know what Stan Kroenke’s long-term intentions are regarding his shareholding in the Club?

Stan is a long-term holder in everything that he does. In the sports arena he has never sold a share in any team he has had an interest in. I have spoken to Stan and he has a long-term interest in Arsenal and, as I have said, believes in the philosophy of the Club. He is going to ensure we have continuity in the traditions of the Club.

Alisher Usmanov is another major shareholder in the Club. Have you had the chance to meet him yet?

I have met with Mr Usmanov and his partner Mr Moshiri on a couple of occasions. I think it is important that we have an ongoing dialogue with the major shareholders in the Club. Mr Usmanov and Mr Moshiri are the largest shareholders through their company Red And White Holdings, so it is important that we have an ongoing dialogue.

Another major shareholder, Lady Nina Bracewell-Smith, recently left the Board. Has there been any contact with her?

I feel the same way about Lady Nina. She is also a significant shareholder in the Club and it’s important that we have an open dialogue with her. I will be reaching out to her to initiate that dialogue and I’m sure that will be a productive dialogue going forward.

Would any of Arsenal's Board members be willing to purchase Lady Nina’s shares if they were made available?

We don’t know what Lady Nina’s intentions are with her shares but, certainly, if she were to say she was a seller of those shares, I’m sure there would be interest from among the current Board.

Danny is seen as a 'rock' on the Arsenal Board. Now that he has sold some of his shares, does this change his commitment to the Club?

No. Danny is still very, very much involved with the Club. He attends almost all of the games, including the away games, and he is a very active participant on the Board and in all of the major decisions that we make. He intends to continue in that role and, frankly, his experience and commitment are invaluable to the Board. So there’s absolutely no change in terms of his day-to-day involvement with the Club.

What is your reassuring message to the fans in the light of today's events?

This is a Club that has over 120 years of history and what has happened in terms of the adjustment of the share holdings between current Board members doesn’t affect the direction that we’re headed in. It is amongst two investors, both of whom share a common philosophy with respect for the Club and a respect for its traditions. None of that is going to change.

We have some tremendous under-pinnings at this Club; the tremendous stadium that we play in, a very exciting and developing young squad who would be the envy of any team in the world, and a fantastic manager. The Club continues to make progress and we’re looking forward to the run-in to the season. We think this could be a very successful year for Arsenal.

[Monday, March 30, 2009]

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