Arsenal chairman Peter Hill-Wood says the current board is developing a positive relationship with major shareholder Stan Kroenke.

He told arsenal.com: "We have had a number of meetings with him. As you know we have a relationship with Colorado Rapids which we have had for some time and it is developing. We have had occasion to talk to his people and him. He is a 50 per cent owner of our broadband company.

"That is another way to expand and his people have some interesting ideas about how to do that. We have got to know him over the past year and we feel they are people that we could do business with."