Gunners supremo to meet billionaire

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The US billionaire tycoon - nicknamed 'Silent Stan' - recently upped his stake in the Premiership club's parent holding company to 12.19% and his involvement is understood to be the main reason behind the "irreconcilable differences" between former vice-chairman David Dein and the rest of the Arsenal board.

In a letter to shareholders, Hill-Wood said: "I myself have spoken to him recently to arrange a meeting."

Hill-Wood added: "His recent acquisition of shares has caused a great deal of media speculation and the board felt that the time is right to reassure you about the future of our club.

"Our philosophy at the club is the same as it always was - to ensure that Arsenal remains one of the elite football clubs and consistently competes at the highest level.

"Our approach, which is very much in line with [manager] Arsene Wenger's, is that the funds generated from ticket sales, broadcasting revenue and the like should be made available for investment in players and that this is the most sustainable way to ensure the club's long-term growth and future.

"The result [of the new stadium] is that we now generate revenues comparable with the largest football clubs in the world."