Fiszman - Business as usual

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Football News

Arsenal's principal shareholder Danny Fiszman has insisted the club remain in "good shape" despite further boardroom upheaval this week.

Lady Nina Bracewell-Smith, who owns 15.9% of the club, was this week forced off the board after a disagreement over the club's future direction.

Fiszman, speaking at Friday's Champions League draw, told Sky Sports News: "I am not going to add to anything we have already stated."

He added: "The club is in good shape and we will continue with our self-sustainability model, exactly as we have in the last couple of years.

"There is always vulnerability in all walks of life, I don't think this makes us any more vulnerable than we were."

Fiszman, who owns 24.1% of Arsenal shares, also confirmed money would be available for manager Arsene Wenger in the January transfer window.

He said: "There are funds available for him if he wishes to spend but, as always, the decision is his."

Bracewell-Smith is the fourth director to leave the board in the past 20 months and her departure has sparked fresh speculation about the future ownership of the club.

Bracewell-Smith had been part of a "lockdown" agreement with her fellow board members - with the exception of recent addition Stan Kroenke - not to sell any shares before April 2009, and thereafter to give board members first refusal until 2012.

But with Uzbek minerals magnate Alisher Usmanov having a 24% holding and his present intentions unclear, there have been suggestions he could launch a hostile takeover.

Copyright (c) PA Sport 2008, All Rights Reserved.

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