Arsenal chairman Peter Hill-Wood has revealed he plans to hold talks with stakeholder and American billionaire Stan Kroenke next month.

The two recently met in New York and Hill-Wood has reportedly invited the Colorado Rapids owner back to London in October.

"We had a very friendly talk," Hill-Wood told the Daily Star. "We wanted to know what he had in mind."

Former Arsenal vice-chairman David Dein is involved with the rival Red and White company after selling his 14.58 per cent share to Alisher Usmanov.

Hill-Wood added: "They were his shares, he's entitled to sell them to whoever he wants."