Arsenal's board members will face questions over the club's ownership from fans at today's AGM.

The Arsenal Supporters' Trust will distribute some 500 copies of the book 'Custodianship at Arsenal' at Thursday's meeting, and are set to raise the issue of ownership in one of the pre-submitted questions.

"Over many decades, Arsenal Football Club has benefited greatly from having stability in both its ownership structure and boardroom membership. It is not by accident that Arsenal is respected for its sense of tradition, values and 'doing the right thing'," the foreword to the book reads.

"Custodianship should not be confused with conservatism.

"Arsenal has been a dynamic club, at the forefront of football innovation.

"The philosophy that the club will strive to better itself and attain success, but always by acting with a long-term, sustainable vision and living within its means, is a shining beacon to the wider football community."

The AST - who hold around 3 per cent of the 62,217 shares in the club - visited the KSE headquarters in Denver during the summer and believe the arrival of American billionaire Stan Kroenke onto the board can only be positive for the club's future, especially in tapping overseas marketing revenue.

"The Arsenal business model of living within one's own means and still being able to compete at the top table continues to be viable," the AST said in a statement.

"However, a great deal of this plan clearly depends on the brilliance and prudence of the manager - the like of which we are unlikely to see again".