Arsenal sought to reassure fans about the club's direction yesterday with a letter from the chairman, Peter Hill-Wood, sent to all shareholders, saying he would shortly meet the American billionaire Stan Kroenke but effectively arguing the club had no financial need for a takeover
Hill-Wood wrote that this season's move to the 60,000-seat Emirates Stadium makes Arsenal "comparable with the largest football clubs in the world" and that "funds are available" to strengthen the squad in the summer.
He stated the board's policy of spending money from ticket sales, television and commercial activities was "the most sustainable way" to run the club, "very much in line with (the manager) Arsene Wenger's approach".
The letter did not shed more light on the departure last week of the vice-chairman David Dein, who is believed to have been sympathetic to a Kroenke takeover.
Wenger will hold talks next week to determine Julio Baptista's future. The Brazilian arrived on loan from Real Madrid last summer, with Jose Antonio Reyes moving in the opposite direction. Both have indicated they would like to make their moves permanent.
"Nothing is decided," said Wenger. "I will meet (Baptista's) agents next week and Real Madrid a bit later. Reyes coming back can happen. I have nothing against that, but Reyes does not want to come back to English football, he prefers to stay in Spain."
The Arsenal goalkeeper Jens Lehmann has agreed a one-year extension to his contract.
"I see him as a top-class goalkeeper and (Manuel) Almunia is a top-class goalkeeper so it will be a battle (for the goalkeeper's jersey) at some stage," said Wenger.
Wenger confirmed he had received applications for the post of director of football, created following the departure of Dein.
"It will happen in the summer," he said. "He will be appointed by me but it will not necessarily be a friend of mine. It will be somebody who will do the job well because if I go one day the guy has still to work here.
"I am looking for somebody with experience of negotiating a little bit, somebody who understands football and who agrees with the values we want to hold at the club."
Guardian Service
