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Arsenal DO Agree Extension

After reporting all of 2 minutes ago that news was filtering through of an extended lockdown period from the Arsenal board, official word arrives from the club.

Amazingly the boards agreement has been extended for a further TWO YEARS with an agreement that any member wishing to sell shares must first offer them to members bound by this agreement. This will be in place for a further FIVE YEARS.

I'll let Peter Hill-Wood explain it to you properly.

"Members of the Board are committed long-term shareholders and to strengthen the current position they have entered into a new agreement which replaces the existing lock-down agreement which expires next April.' PHW says on the official website.

"Under the new agreement, the Board members have agreed not to dispose of any of their interests in the Club before 18 April 2009, other than to certain permitted persons such as close family. After that date, for the remainder of the term of the agreement, they can only sell their shares to another person if the other parties to the agreement do not wish to buy them. The agreement is for five years (until 18 October 2012), although it can be terminated early by the parties on its third anniversary (18 October 2010)."

So it doesn't look as though Jabber The Uz will be getting his hands on our club anytime soon.

Great work by the board of Arsenal Football Club.

Up the Gunners!!!!

Click here to join in the debate on the club forum.

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The Journalist

Writer: Rocky7 Mail feedback, articles or suggestions

Date:Thursday October 18 2007

Time: 12:20PM

Your Comments (oldest first)

Change to most recent first
Oh you've seen it now lol. Great news.
Report Abuse
18/10/2007 12:26:00

I was already beavering away as you left your message ..... lol
Report Abuse
18/10/2007 12:27:00

Gooooooooooooooo board! Are they the coolest grandparents or what?
Report Abuse
18/10/2007 12:28:00

And what you haven't mentioned (but it's even cooler), is that not only has Hill-Wood basically offered Wenger a place on the board, but backed Arsene to succeed him as chairman one day!!! Hasn't that job been in the Hill-Wood family for 3 generations?
Report Abuse
18/10/2007 12:30:00

LMAO @ AG. This current selection of board members certainly do have the clubs best interest at heart. I wonder if their decision was helped along by the outcry coming from the Gooners?
Report Abuse
18/10/2007 12:31:00

That article is on the way AG, this news was more important though!!
Report Abuse
18/10/2007 12:32:00

Good news and shows great commitment by the current board. I see they have also added some shareholder benefits in order to encourage some of the smaller shareholders to hang onto their shares. That has to be good. Kroenke doesn't seem to be involved in the lockdown but that isn't too significant yet. It does mean that Usmanov has to contemplate not being able to control the club at anytime in the near future though hopefully it won't allow too many small shareholders to feel that they can sell their shares without inflicting any damage on the stability of the club. The board now has time to develop a long term plan to secure the independence of the club away from any single owner.
Report Abuse
18/10/2007 12:57:00

perfectly timed before the AGM too. This will answer a number of questions before they are even asked. Hats off!
Report Abuse
18/10/2007 13:51:00

or was it an opening statement at the AGM?
Report Abuse
18/10/2007 13:57:00

Congrats gooners, I think that will make usmanov go away for good.
Report Abuse
18/10/2007 13:58:00

Great, great news. With Usmanov gone, I bet our results on the field will get EVEN better. and thats saying something. Everything at Arsenal is now where it's supposed to be.
Report Abuse
18/10/2007 14:04:00

Report Abuse
18/10/2007 14:31:00

thanks kevin.
Report Abuse
18/10/2007 14:40:00

Kev, I bet you're gutted eh.......I told you TBS syndrome!!!
Report Abuse
18/10/2007 14:57:00

lol, Rocky, I think we all have The Brazilian Soccer syndrome! I'm not gutted at all, I was cheering for usmanov because I knew it would ***** you lot off, :p.And plus, I already have other things I can ***** you lot off about, no need to use usmanov. Namely, FIFA player of the year award...
Report Abuse
18/10/2007 15:04:00

Paul, something else for you to report. A bust of Arsene Wenger;ne+Wenger
Report Abuse
18/10/2007 15:33:00

Excellent news. This was expected by all those who understood the Board and what they meant for the club, but this is a particularly strong message to that ****, Usmanov. Now, kindly ***** off from Arsenal FC.
Report Abuse
18/10/2007 15:34:00

afri-gooner, when did PHW mention that? I'm trawling through the official site, and apart from the news that a bust of Wenger has been made, I cant find any mention of the Board appointment.
Report Abuse
18/10/2007 15:36:00

prits here's the article from sky sports,19528,11670_2807616,00.html
Report Abuse
18/10/2007 20:24:00

Listen to k_chelski, people. He knows about mad Russians trying to takeover the club, just look at the owner of his club. Abramovich pushes out Chelski 's most successful manager and replaced him with some unqualified manager. Also, Roman is going to the locker room and ordering Sheva to tell Essien to "pass better".
Report Abuse
18/10/2007 23:46:00

And you know about gay orgies involving tottenham players( not making this up). To each his own I guess... Instead of taking claims out of your ass, you should prove it first,Probably a "the sun " reader.
Report Abuse
18/10/2007 23:55:00

Yeah, just look at the Spurs players always so tried and can't last the whole 90 minutes. Just put two and two together. Can't you take a joke, k_chelski? You always tell us Arsenal fans to lighten up, can't you do the same? So what are you saying Avram-ovich is a qualified manager to lead your club? From Mourinho to him, geez, your club can do better.
Report Abuse
19/10/2007 00:11:00

I'm not upset at all. The "instead of taking claims out of your ass, you should prove it first,Probably a "the sun " reader." wasn't aimed at your gay orgy knowledge , it was at you claiming Abramovich did this, and that. Even if he wasn't, he has Ten Cate and Steve Clarke as assistant managers.I trust Roman's judgement, as his personal wealth tells me he might know his stuff.
Report Abuse
19/10/2007 00:26:00

You think Mourinho just walked out of Chelski just like that? So it has nothing to do with disagreements with Abramovich like the team not playing the way he wants and also not playing Sheva? Comparing Cate and Clarke to Jose, you must be yolking! I don't like Jose but he was a fantastic manager. Anyway, your thoughts on Drogba's comments about wanting to leave your club? It was reported by reliable sources, so I'm not making this up.
Report Abuse
19/10/2007 00:44:00

Also, nope, not a Sun reader. Is this the same Sun that reported that Arsenal bought Argentine striker, Palacio for 15 million pounds?
Report Abuse
19/10/2007 00:50:00

Never said Mourinho walked off out of the blue.You're the one giving an unfounded version of what Abramovich is doing. Mourinho was a very good manager, but he spent alot of money, and the way he played didn't please Abramovich, Abramovich probably confronted Mourinho, who is an emotional and temperamental person they both agreed it was best if Mourinho left. Abramovich was probably tired of Mourinho bringing controversy tension and legal fights to the club, being a reserved person, he probably didn't like all the media circus that happened while Mourinho was the manager. So Abramovich hired someone who he knows is a reserved person, a person that wants to show his worth on the pitch.I trust Abramovich's judgement, he isn't vastly rich for no reason.
Report Abuse
19/10/2007 01:03:00

If it's true what drogba said, then he better go. No player is bigger than the club,f he thinks the club is broken, he can go.There are several other thousand players willing to play for Chelsea.And alot of excellent players out there.Only Abramovich is irreplaceable.Though I'd be sad if Drogba left.
Report Abuse
19/10/2007 01:06:00

Okay, that's your opinion. I think Abramovich should have let Mourinho run the club the way he wants to, even if the football isn't the most attractive but just look at the trophies he had won during his reign. I fear your club will go through was Real Madrid had done with swapping and changing managers. Abramovich is replaceable, take Usmanov, while he's not as rich as Roman, he's Russian and a billionare so take him, I'm sure he would love to own your club, when he finally figures out that no one (apart from Dein) wants him at Arsenal.
Report Abuse
19/10/2007 01:38:00

it is great news, but i am weary of the terms and conditions... the way i read it is, if person A wishes to sell shares, he must offer them to the board first. if he says , i want 10k a share, the board say no, is he then able to say, ok i will offer them elsewhere or is that only after the lockdown date ?
Report Abuse
19/10/2007 10:38:00

Great news... been offline for a couple me days and am chuffed to get back on the net and see this...
Report Abuse
20/10/2007 22:07:00


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