Gazidis: Kroenke is known and trusted by the Board

CEO Ivan Gazidis has moved to reassure supporters that majority shareholder Stan Kroenke is the right man to take the club forward.

The US tycoon now owns close to 67 per cent of the club, and there are concerns amongst supporters that the American is only in it for short-term gains.

Mr Gazidis said: “With respect to Stan we have someone who understands the Club.

“Danny Fiszman’s [illness] precipitated the change in the ownership structure and led to Danny deciding to sell to Stan Kroenke.

“He knew him and he was comfortable selling his shares to him, he trusted him with the great responsibility of this Club.

“Mr Kroenke is known to the Directors and they have confidence in him. In his track record in sports, and also very importantly his track record with Arsenal, he has used a self-sustainable model and brought success to his sports teams and he wants success for Arsenal.

“He has grown to love Arsenal but he will remain in the background. This is not somebody who steps forward and looks for a public profile.

“The confirmations that Mr Kroenke gave in relation to his offer were, one, that he supports the self-sustainable business model of the Club, and secondly that the offer would not be funded by debt against the Club or dependent on Arsenal’s business.

“Those were two significant commitments and confirmations that he made.”