Arsenal chairman Peter Hill-Wood has admitted that he has held positive talks with 12 percent Gunners shareholder, American Stan Kroenke. Arsenal are desperate to stave off the interest of Red and White Holdings - headed by Alisher Usmanov - who could mount a takeover of the club.

Hill-Wood said: "He already has a major link with the club through the broadband rights, and there is every reason to expect that we shall discuss further how his involvement can be extended.

"Contrary to what I said before, I now believe he may well have a vital contribution to make to the future of this football club.

"I am not denying I said what I said, but I made those observations before meeting Stan.

"I have now got to know him and I have changed my opinions.

"When I met him, yes, I did not think he was the right person to take control of Arsenal Football Club. Now I know him as a man who is very much steeped in sport. He is a sports fan."