Arsenal chief executive Ivan Gazidis says they're proud of their business model.

After denying claims that Stan Kroenke, the club's majority shareholder, or the club's second largest shareholder, Alisher Usmanov, would mount a takeover bid, Gazidis discussed their current ownership structure.

"We're a very transparent club, we're a public company so we issue our financial statements," Gazidis told The Leader. "Our most recent one just came out and shows us to be very, very robust financially, delivering a profit of £45 million so the club is very well positioned.

"All of the money we generate goes back into the club. We don't pay dividends and so they haven't gone out of the club to shareholders, it's reinvested into the club. That model, which we call a self-sustaining model, really means that the club has a sort of independence from its ownership, it stands on its own two feet. I like to say that Arsenal is bigger than any of its individual owners."