Arsenal director Lady Nina Bracewell-Smith insists she's never considered selling her 15.9 per cent stake.

The Guardian says despite the so-called "lock-down agreement" tying the shareholder-directors together, Bracewell-Smith has widely been rumoured as the weak link among a number of smaller shareholders who between them own approaching 50% of the club.

At current market prices Bracewell-Smith's shares would raise about £80m - and in the event of a hostile takeover there could be a significant premium. But apparently the Lady's not for turning.

"We've never had a rich benefactor," she said.