Former vice-chairman David Dein sold his own 14.58 per cent share in the club to Usmanov, and Dein is now Chairman of Usmanov’s holding company that wants to gain a significant stake in the club.
Hill-wood said: “The major shareholders have no intention of selling and wouldn’t welcome an offer”
“But we will have a dialogue with any principal or major stakeholder, adding “If they’ve got some sensible proposals we’ll listen to them”.
Dein maintains that Arsenal would not be able to compete with rival clubs such as Chelsea and Manchester United without major foreign investment.
