Last Updated: Fri, 08 Mar 2013 08:30
Arsenal chairman Peter Hill-Wood is unaware of interest from the Middle East with regards to a takeover at the Emirates Stadium.
Reports last weekend have claimed that a Middle East consortium, backed by funds from Qatar and the United Arab Emirates, are preparing a £1.5billion bid to buy out the Premier League club at around £20,000 a share.
However, it was claimed that no approach has been made to the club, while American owner Stan Kroenke, who pushed through his £430million-plus takeover in April 2011, and now holds 66.83% of the club, was said to be "in it for the long term".
And Hill-Wood has now spoken out to claim he does not expect Kroenke or other major shareholder, Russian Alisher Usmanov, to sell their interest.
He said: "I have heard nothing and I don't think anybody knows anything about it at the club. It all seems a bit of a waste of time.
"If there is this consortium, they can't make any progress unless they attempt to get in touch. So I can't say if there is anything to it or not.
"But even if they did make an approach, my understanding is our two major shareholders do not want to sell."
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