ARSENAL’S SECOND-LARGEST shareholders have written an open letter to the board, criticising them over the direction the club is taking.
The move comes 24 hours after club captain Robin van Persie stated he wanted to leave the north London club.
Alisher Usmanov and Farhad Moshiri hold around 30% of shares in the Gunners’ parent company, which was the subject of a takeover in 2011 by American tycoon Stan Kroenke.
“Where are the safeguards to ensure that this doesn’t happen again and again?” the letter reads. “In our view it is clear you are trying to distract attention from the more fundamental issues facing the club.
“These are the financial model, the lack of investment and club’s future strategic direction. At the heart of this is the policy of so-called self-financing. The previous decision by the board to fund the building of the Emirates Stadium with long-term debt was, we believe, certainly not about self-financing.
Russian billionaire Alisher Usmanov, right. Vitaly Belousov/Photas/Tass/Press Association Images
“It is simple. A debt free club, with a big enough war chest to buy top talent players who can hit the ground running and who can complement the club’s long tradition of developing young players and homegrown talent. Together they can help the club win the most prestigious trophies — because it is the trophies which are the crowning achievement for everybody at the club.”
Last night, club officials inisted they expected van Persie to see out the final season of his contract at the Emirates. Earlier, the Dutchman insisted his future lies elsewhere.