Arsenal yesterday received a £47 million windfall with the announcement that the media group, Granada, have bought a stake in the north London club.

The Gunners hope to use the cash injection to help finance the development of a new state-of-the-art 60,000 all-seater stadium at nearby Ashburton Grove while Granada will be given the opportunity to exploit the club's new media and Internet rights.

Meanwhile, the Highbury club have won their tug of war with Nigeria after the Olympic champions omitted Kwankwo Kanu from the squad to defend their title in Sydney.

The Super Eagles had tried up to the last minute to persuade Kanu, the African footballer of the year who captained the side to Olympic glory four years ago in Atlanta, to turn out for them again. However, Kanu had made it clear yesterday he would not be picking up his ticket for Sydney.