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ARSENE WENGER has threatened to quit Arsenal if Russian oligarch Alisher Usmanov wins the battle to seize control of the club.
I understand Wenger has made it plain to the Gunners board he will not work under Usmanov and would move to Real Madrid instead.
And that is one of the reasons behind Stan Kroenke's stealthy takeover at the Emirates. The American billionaire has taken his stake in the club to just less than the 30 per cent needed to spark a takeover bid, leaving Usmanov puzzled at his motives.
However, senior Arsenal sources believe Kroenke's attempt to push Usmanov out of the picture is to help protect Wenger's position.
The Gunners boss has no interest in the lavish promises Usmanov has made in an attempt to win his battle for power. The Russian has said that if his Red and White group seizes control of the club he would inject over £100 million to strengthen the Arsenal squad.
After Arsenal were knocked out of last season's Champions League by Manchester United, Usmanov went public - insisting Wenger should buy big.
But the Arsenal boss remains convinced his policy of developing a new team based on nurturing young players rather than importing expensive superstars is the way ahead.
An Arsenal insider said: "If somehow Usmanov managed to take control then Arsene, who is otherwise utterly loyal to the club, would quit.
"He doesn't want any owner interfering with the way he is developing the team. He has long been resistant to bringing big money signings in.
"He has a plan and everyone is seeing it come to fruition. That's not to say along the way he won't bring in some players but he will only do so on his terms. Arsene has made the board very aware of that and that he couldn't work with an owner who insists on spending big money on new players.
"As it stands Arsene is happy working with Kroenke on the board because he has shown no interest in interfering. The same can't be said for Usmanov."
Last summer Wenger turned down a firm offer from Madrid to move to Spain.
It was not the first time Madrid had come calling but Wenger remains adamant he won't break his contract.
Establishment
That would change if Usmanov eventually won what has become a cold war with Kroenke. Indeed, I understand Wenger would not only move on to Madrid he would seek to take some of his best young players such as Cesc Fabregas with him.
As it stands Usmanov owns 23 per cent of the club, while Kroenke this week took his stake to a fraction under 29.9 per cent - the point at which a formal takeover bid is required to be lodged.
But Usmanov, who has not been welcomed onto the board, could yet scoop up enough shares to go beyond the 29.9 per cent barrier - especially as 15.9 per cent shareholder Lady Bracewell Smith has fallen out with the club.
Even if Usmanov did own in excess of 30 per cent and trigger a takeover bid it is believed there would still be enough votes to reject it, maintain the status quo and eventually force the Russian into retreat.
Wenger's position will only harden the resolve of the Arsenal establishment.
A further concern is that for Usmanov to fund a full takeover, which could value the club in excess of £700m, he would have to borrow heavily.
City experts predict that Arsenal could quickly find themselves in a situation like Manchester United where the owners - the Glazer family - have borrowed massively and the club is straining under huge annual interest payments.
I understand Wenger has made it plain to the Gunners board he will not work under Usmanov and would move to Real Madrid instead.
And that is one of the reasons behind Stan Kroenke's stealthy takeover at the Emirates. The American billionaire has taken his stake in the club to just less than the 30 per cent needed to spark a takeover bid, leaving Usmanov puzzled at his motives.
However, senior Arsenal sources believe Kroenke's attempt to push Usmanov out of the picture is to help protect Wenger's position.
The Gunners boss has no interest in the lavish promises Usmanov has made in an attempt to win his battle for power. The Russian has said that if his Red and White group seizes control of the club he would inject over £100 million to strengthen the Arsenal squad.
After Arsenal were knocked out of last season's Champions League by Manchester United, Usmanov went public - insisting Wenger should buy big.
But the Arsenal boss remains convinced his policy of developing a new team based on nurturing young players rather than importing expensive superstars is the way ahead.
An Arsenal insider said: "If somehow Usmanov managed to take control then Arsene, who is otherwise utterly loyal to the club, would quit.
"He doesn't want any owner interfering with the way he is developing the team. He has long been resistant to bringing big money signings in.
"He has a plan and everyone is seeing it come to fruition. That's not to say along the way he won't bring in some players but he will only do so on his terms. Arsene has made the board very aware of that and that he couldn't work with an owner who insists on spending big money on new players.
"As it stands Arsene is happy working with Kroenke on the board because he has shown no interest in interfering. The same can't be said for Usmanov."
Last summer Wenger turned down a firm offer from Madrid to move to Spain.
It was not the first time Madrid had come calling but Wenger remains adamant he won't break his contract.
Establishment
That would change if Usmanov eventually won what has become a cold war with Kroenke. Indeed, I understand Wenger would not only move on to Madrid he would seek to take some of his best young players such as Cesc Fabregas with him.
As it stands Usmanov owns 23 per cent of the club, while Kroenke this week took his stake to a fraction under 29.9 per cent - the point at which a formal takeover bid is required to be lodged.
But Usmanov, who has not been welcomed onto the board, could yet scoop up enough shares to go beyond the 29.9 per cent barrier - especially as 15.9 per cent shareholder Lady Bracewell Smith has fallen out with the club.
Even if Usmanov did own in excess of 30 per cent and trigger a takeover bid it is believed there would still be enough votes to reject it, maintain the status quo and eventually force the Russian into retreat.
Wenger's position will only harden the resolve of the Arsenal establishment.
A further concern is that for Usmanov to fund a full takeover, which could value the club in excess of £700m, he would have to borrow heavily.
City experts predict that Arsenal could quickly find themselves in a situation like Manchester United where the owners - the Glazer family - have borrowed massively and the club is straining under huge annual interest payments.