LONDON: David Dein quit as vice chairman and director of Arsenal on Wednesday after falling out with other members of the board.
Arsenal chairman Peter Hill-Wood thanked Dein for his services to the club, but said he would leave with immediate effect.
"We sincerely regret that irreconcilable differences between Mr. Dein and the rest of the board have necessitated a parting of the ways," Hill-Wood said in a statement.
Hill-Wood did not elaborate on the reasons, but the statement referred to American businessman Stan Kroenke's recent purchase of 11.26 percent of Arsenal. British media reported that was the reason for Dein leaving.
Hill-Wood had earlier said he was "horrified" at the thought of selling Arsenal to an American. Premier League clubs Manchester United, Chelsea and Liverpool are all owned by foreigners.
"They have entered into an agreement not to dispose of their shares for at least one year and have confirmed that they intend to retain their interests on the expiration of this period," the statement said.
Dein became a director at Highbury in 1983 and still owns 14.5 percent of its shares. He was instrumental in hiring Arsene Wenger as coach in 1996. Wenger has guided Arsenal to three Premier League titles, four FA Cups and the final of the 2006 Champions League.
Dein is also chairman of the G-14 group, which comprises European soccer's most powerful clubs.
Kroenke's purchase of shares this month has led to media speculation that Arsenal could be the next club after Manchester United, Liverpool and Aston Villa to be owned by Americans.
If Kroenke obtains 30 percent of Arsenal's shares, he will be able to launch a takeover bid under London Stock Exchange rules.
Kroenke is a real estate developer who owns the NBA's Denver Nuggets, the NHL's Colorado Avalanche and the Colorado Rapids of Major League Soccer. He is also a co-owner of the NFL's St. Louis Rams.
In February, Kroenke Sports Enterprises announced it had formed a marketing alliance with Arsenal to exchange business, commercial and marketing information, and share coaching and training philosophies.
Hill-Wood, whose family association with Arsenal dates back to the 1920s, is firmly against a takeover. He said three key shareholders — Danny Fiszman, who has 24 percent of shares, Nina Bracewell-Smith (15.8 percent) and Richard Carr (4.35 percent) — had no intention of selling their stake.
"They are independently wealthy and do not need the money," Hill-Wood told The Guardian newspaper Wednesday. "Having a few extra million pounds in the bank is of no interest to them. We're here for Arsenal Football Club, not to make a few bob. We would be horrified to see it go across the Atlantic."
Did not see this one coming, im totally & utterly gobsmacked by this, Dein has given our club a tremendous service & im really sorry it has come to this.
Seeing as the disagreement is seemingly over the kroenke bloke, i cant see Dein selling his shares to him......or at least i hope he will not.
Ive highlighted part of the article, this is increasingly paving the way for a take-over.
