Dein parts ways with Arsenal
Dein has left Arsenal after 24 years at the club
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Wednesday, 18, Apr 2007 10:48
The vice-chairman of Arsenal, David Dein, has left the club with immediate effect citing "irreconcilable differences".
Dein was highly involved in bringing manager Arsene Wenger to the club in 1996 and was also vice-chairman of the Football Association between 2000 and 2004.
Recently speculation has increased around the Emirates Stadium about a possible takeover of the club after American billionaire Stan Kroenke purchased a 9.9 per cent share of the Gunners last month from broadcaster ITV.
However the remaining members of the board have denied that they are looking to sell their shares in the immediate future.
Arsenal chairman Peter 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."
The club added in a statement that the remaining board members continued to be committed to the club.
The statement read: "In light of recent speculation with regards to the ownership of the club, the remaining board members, who together own 45.45 per cent of the company, would like to reassure the supporters, shareholders and employees of Arsenal 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."
Dein remains the chairman of the G-14 group, a committee of Europe's most influential club sides, which includes teams such as Real Madrid, Barcelona and AC Milan.