Arsenal Chairman Denies Takeover Speculation

Arsenal chairman Peter Hill-Wood (pictured right) says he has not heard anything from the Middle-Eastern consortium believed to be interested in buying the Premier League club.

Recent reports speculated that a group backed by funds from Qatar and the United Arab Emirates would make a £1.5 billion ($2.26 billion) offer in the near future, though Hill-Wood does not believe they will be successful should they make a bid. He said that the club’s major shareholders, Stan Kroenke (pictured left) and Alisher Usmanov, have no intention of selling their stakes in the club.

He said: “I have heard nothing and I don’t think anybody knows anything about it at the club.

“It all seems a bit of a waste of time.

“If there is this consortium, they can’t make any progress unless they attempt to get in touch.

“So I can’t say if there is anything to it or not.

“But even if they did make an approach, my understanding is our two major shareholders do not want to sell.”