As has been well-publicised, there has been some serious hoovering up of Arsenal recent days. As I have written on this website before Arsenal could be sold tomorrow, the club are ripe for a takeover, should the price be right. There is a general belief that because the major shareholders on the board are regarded as independently rich, there is no requirement for them to cash in on their shares. And many would be surprised if the major shareholder Daniel Fiszman with 25%, having worked so hard to make the new stadium come into being, were to walk away from it now for money he simply doesn’t need. He attended his first match as a seven year old in 1952, now lives in Switzerland but has stated recently he has no intention of selling his shares.

However, it doesn’t necessarily need Fiszman to be willing for the club to change hands. If the likes of David Dein (who would have preferred Arsenal to have moved to Wembley, and is reputedly isolated at boardroom level – he owns 14.6%) and Lady Nina Bracewell-Smith (whose motives have never been publicised – her 16% personal holding comes via her marriage to Sir Charles, the grandson of a former director and then Chairman, Sir Bracewell Smith) were to sell up, Fiszman might find himself a minority shareholder and seriously consider cashing in his chips. ITV, who hold almost 10% of the shares are committed to sell for the “right price”, further marginalising the man who doesn’t need to sell. A further 10% is owned by various other “speculative” types who we believe would be willing sellers.

Certainly, there are enough billionaires out there who might fancy a Premiership club in their portfolio for the sale of Arsenal to become a distinct possibility. If speculative investors were behind the recent £3 million plus sales, it is because they consider the club undervalued and believe a sale will come sooner rather than later, with a resultant increase in share value leading up to the takeover.

However, should this occur, Arsenal’s independent minority shareholders, who own about 14% of the Club, are actually in a strong position to make a new owner accountable. Over 90% of the existing shares must be bought to force minority shareholders to sell their own shares (which would be worthless, as Manchester United’s have become to those who did not accept Malcolm Glazer’s offer). If 10% refuse to sell, then Annual General Meetings must still be held and whatever directors board exists can be held accountable to all shareholders at the AGM, explaining the workings of the club with as much transparency as is demanded. To withhold information about Arsenal in such a context would be illegal.

The Arsenal Supporters Trust was formed to safeguard the interests of minority shareholders and supporters in general, by representing them on a regular basis to the Arsenal board of directors. They have a good working relationship with Keith Edelman and the Arsenal board recognised the value of their work by granting them an ‘orphan’ share at the last AGM (this share discovered by the Trust as unallocated from the re-structuring of the club shares that occurred in 2000 when Granada Media / ITV bought into Arsenal.) This share belongs to the Trust and thus all its members. And you do not have to be a shareholder to join.

It’s important that both existing minority shareholders and fans who want to be ready to get involved in any campaign should they not welcome a potential complete takeover come together under the AST umbrella. Apathy at this time could have serious effects that will outlast the lives of all of us. Membership costs £24 per year if paid by standing order at £2 a month or £30 a year as a one off annual payment. Apart from regular updates, you are welcome to attend any of the Trust’s monthly meetings, as well as special events such as last year’s Q & A session with Keith Edelman in the directors’ boardroom at the old Highbury stadium. Additionally, you can apply to attend the AGM as a proxy for an existing AST member shareholder who cannot get along, and hear Arsene Wenger’s annual speech to the club’s owners in the flesh.

So there are several good reasons to join up, but the most important one of all is to establish a committed group of fans (both shareholders and non-shareholders) who care about who owns the club and how it is run. Act now before it is too late. For details of how to join, visit www.arsenaltrust.org

And remember, by joining the AST you become a holder in the share the club issued the organisation as well as the two purchased by the AST, so you can consider yourself a part owner of Arsenal Football Club once your subs are paid.