David Dein, one of the most powerful figures in English football, has quit as vice-chairman of Arsenal because of "irreconcilable differences" with board colleagues.

Arsenal also said they were not about to agree to sell the club, in which American businessman Stan Kroenke recently bought an 11 percent share.

Dein, who joined the Arsenal board in 1983, owns 14.5 per cent of the club's shares.

Arsenal chairman Peter Hill-Wood said before the announcement of Dein's departure that he and three of the club's major shareholders had "no intention of selling to some stranger".

"We're here for Arsenal Football Club, not to make a few bob. We would be horrified to see it go across the Atlantic," he told The Guardian.

An Arsenal statement read: "In the light of recent speculation with regards to the ownership of the club, the remaining board members, who together own 45.45 of the issue share capital of the company, would like to reassure the supporters, shareholders and employees of Arsenal Football Club that they remain long-term holders of their interests in the club.

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

Hill-Wood said: "We sincerely regret that irreconcilable differences between Mr Dein and the rest of the board have necessitated a parting of the ways."

Dein, chairman of the G-14 group of Europe's most influential soccer clubs, was instrumental in bringing French coach Arsene Wenger to the North London club in October 1996.

Wenger has led Arsenal to three premier league titles and four FA Cup wins.