Earlier this week the sage of the financial world Alex Ferguson made a pronouncement on the financial situation at Arsenal. His claim was that Arsene had very little money to spend and it will be tough for Arsenal this season.

This comes from the club who are £800million in debt and have annual interest payments of £45million.

Arsene has for the first time broken his self imposed purdah on Arsenal's transfer budget or money available for transfers.

"I am fed-up with people who think I have £100million in the bank yet don't want to spend it. How can people think that? The pride of the club is in having moved to a new stadium while maintaining the club at the top level.

Having seen Stan Kroenke increase his stake by two shares yesterday, our loveable Russian has once again entered the fray and gone straight to the heart of our problem. The massive debt mountain we have, but more particular the £135 million loan that is associated with the Highbury Square development.

There have been several reports recently that Alisher Usmanov will announce any day now that he has acquired Lady Nina Bracewell-Smith's 15.6% share in Arsenal. This will take Usmanov's holding to over 40%, resulting in him being obliged to make a formal offer for the club.

The Board, namely Peter Hill-Wood will make statements to the effect that the club is not for sale, despite the fact the Hill-Wood sold his shares in Arsenal many years ago to David Dein!

The day it was reported that Alisher Usmanov's wealth had crashed from $13.3bn to a mere $4.5bn, our friendly Russian through his Red and White Holdings vehicle has increased his stake to the highly significant 25%. At this level, Red and White can block any Special Resolution that the board puts to the shareholders in terms [.

Stan Kroenke has increased his stake to become the biggest single shareholder in Arsenal Football Club. Kroenke increased his stake in the club to 28.3 per cent by buying 4,839 shares from members of the Carr family, including fellow director Richard Carr

Kroenke has come a long way since acquiring a 9.

Many Arsenal fans, journalists and people in football cannot understand why Wenger does not spend money in the transfer market. They see our weaknesses, they see a massive stadium sold out for every game and record profits recorded year after year and ask themselves why will he not spend?

What a turbulent week, Wenger throws away a line about Real Madrid and suddenly we felt like the roof hade caved in on our little world. Everyone came out in support of Wenger.

Hill-Wood came out like the proud rooster, strutting his stuff about how disgraceful those shareholders were and how dare they question a man like Wenger.

It's now or never for Arsenal Football Club. Stan Kroenke has been mopping up small shareholdings over the last couple of weeks to raise his share in the club to 29.8%. He is a fraction below the mandatory bid figure of 29.9%.

It was rumoured that he bought 100 shares from Arsenal chairman Peter Hill-Wood; this is the same man who famously said, "We do not need his sort at this club.

The news this morning is that Danny Fiszman has sold 5,000 shares to fellow director Stan Kroenke for £42.5 million. This means that Kroenke is now the second largest shareholder with 20.5%, whilst long time director Fiszman has reduced his stake to 16.1%. Fiszman is subject to the lock down agreement, under which all the directors [.

Arsenal's Chief Executive, Ivan Gazidis has been talking about our three main shareholders, Lady Nina Bracewell-Smith, Alisher Usmanov and Stan Kroenke. Lady Nina Bracewell-Smith, who owns 15.9%, was ousted shortly before Gazidis was appointed. She has spent more time in India recently. Her shareholding is vital as to who will control the club.

Stan Kroenke has increased his stake to become the biggest single shareholder in Arsenal Football Club. Kroenke increased his stake in the club to 28.3 per cent by buying 4,839 shares from members of the Carr family, including fellow director Richard Carr

Kroenke has come a long way since acquiring a 9.

Every season the Arsenal board make the same pronouncement, "Arsene Wenger has the money to buy any player he wants." Every summer we end up selling players to buy players, yet the board insist that Wenger has the money.

Only last week Hill-Wood stated that the board will back Arsene, yet yesterday when Wenger was being interviewed he said that he does not know what his budget is!

This week could be a monumental week in the history of the ownership of Arsenal Football Club.

At a board meeting this week, the directors will discuss, amongst other matter the option of raising additional capital.

Alisher Usmanov has sent a letter to the club formally offering to under-write a £100 million rights issue.

It was no surprise to anyone that the board even though they reviewed the possibility of raising additional funds, the board has come to the conclusion that the club does not need to raise any additional funds.

In the board's infinite wisdom, they are able to repay the £135million loan on Highbury Square by April 2010 and give Arsene the money he needs to improve the squad without the need for an annual "marquee player" sale.

Arsenal announced their financial results for the year ending 31 May 2009 and the news is great on all fronts.

Revenue from football activities is up £18million due to our extended runs in both the FA Cup and the Champions League. When people say qualification to the knock-out stage of the Champions League is worth £20million that is not far off the mark.

Arsenal has had a giant axe hanging them in the form of a loan in the region of £130million. This loan needs to be repaid by April 2010. The loan relates to the development of Highbury Square.

Unless anyone has been living in a cave for the last 18 months, the property market has collapsed, leaving the club with over 600 flats to sell.