Last Updated: Sun, 07 Sep 2008 11:49
Chairman Peter Hill-Wood would like to maintain Arsenal under the current ownership, but realises shareholders could accept a big bid.
The Gunners supremo is well aware that mega-rich foreign investors are now targeting the top Premier League clubs following this week's takeover agreement between Manchester City and the Abu Dhabi United Group for Development and Investment (ADUG).
Arsenal are unable to be bought out in the immediate future after the club agreed an extended revision of the lock-down agreement over any potential sale of their shares last October.
However Hill-Wood recognises that in the long-term his desire to keep the same board of directors in place at the Emirates Stadium could come under threat.
He told the Sunday Mirror: "If somebody came and made a really huge bid then you cannot recommend shareholders turn it down because we don't like it.
"We want the club to stay in its current ownership and, of course, you have some concern that someone will try to buy the club.
"The directors don't want to sell but we are a public company. It depends on the price."