The Arsenal Supporters Trust has called for all shareholders to unite behind the board and welcome the investment of Stan Kroenke, the club's single largest shareholder. The Takeover Panel is looking into Kroenke's recent £42.5million purchase of shares, amid concerns from other shareholders the American billionaire may be receiving preferential treatment in the buying of stock.
Arsenal, however, are adamant there has been no improper behaviour nor any rules broken. The AST act as the voice for small shareholders who together own about 12% of the shares - have long championed the involvement of Kroenke.
"The AST regrets that a shareholder has chosen to involve the takeover panel," a statement said.
"Their complaint is about protecting shareholder value. We represent Arsenal supporters who own shares as custodians of the club.
"Our primary interest as shareholders is what is good for Arsenal Football Club rather than trying to make money.
"Once again we would urge all of the major shareholders in the club to reflect that Arsenal would be much better off if everyone worked together.