Hill-Wood to hold talks with Kroenke

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Hill-Wood, who stated only last week that the club "don't want his sort", took the unprecedented step of writing to shareholders yesterday explaining the reasons behind his decision to meet the billionaire.

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Meeting: Hill-Wood is keen to talk with Kroenke

Kroenke increased his stake in Arsenal to 12.19 per cent last week when he acquired another 577 shares at £6,800 each and there are lingering fears among supporters that one of the major stakeholders will crack and sell up to him.

Although there is an agreement in place between Hill-Wood, Danny Fiszman, Lady Nina Bracewell-Smith and the rest of the board members not to sell their shares for at least a year, Kroenke means business.

Hill-Wood said: "Our managing director, Keith Edelman, has already had one meeting with Mr Kroenke since his investment, and I myself have spoken to him recently to arrange a meeting so that I can hear what he has to say."

Meanwhile, goalkeeper Jens Lehmann finally ended lengthy negotiations over his future yesterday by agreeing to stay at the Emirates Stadium for another season.

Paul Allen, cofounder of computer giants Microsoft, is ready to become the latest mega-rich American to own an English club by buying Southampton.

The world's 19th richest man, is looking to invest £50million of his £9billion fortune in the Championship club.

Allen, who already owns NFL outfit the Seattle Seahawks and Portland Trail Blazers basketball team, is close friends with Manchester United owner Malcolm Glazier.