Chairman Peter Hill-Wood has admitted he is ‘concerned’ the club’s shareholders could receive an offer from investors that is too good to refuse.

Arsenal, though, agreed an extended revision of the lock-down agreement over any potential sale of their shares last October, safeguarding against the possibility of a takeover.

Peter Hill-Wood is keen to retain the club’s current structure, he concedes shareholders would be forced to consider a huge bid from foreign investors in the future.

“If somebody came and made a really huge bid then you cannot recommend shareholders turn it down because we don’t like it. Said Hill-Wood.

“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.”