So David Dein has left Arsenal. Which leaves a few questions…

Will he sell his shareholding in the club? If he sells it to Stan Kroenke, the American billionaire will become the club’s largest individual shareholder.

Was Dein urging the board to sell out to Kroneke?

Is Dein already in advanced talks with Kroenke?

Will Arsene Wenger sign on for a new contract now his best mate at the club has resigned? If the board do sell up in April 2008, that would of course leave time for Wenger to still commit, (assuming Dein returns in a role under Kroenke)

Is Dein, believing greater investment is necessary on the playing side than the current board can currently afford, resigning for tactical reasons, or out of pure frustration?

Will he return if Stan Kroenke does attempt a takeover at some future time (which presumably cannot be for a year after Arsenal’s statement, which I am told is legally binding in regard to company law)?

Where does this leave his role as the two year chairman of the G14 group?

There is little doubt that Dein has been an isolated figure on the board since his fallout with Danny Fiszman, and Keith Edelman was appointed as managing director, a move that Dein reputedly disagreed with. Peter Hill-Wood’s comments in The Guardian article this morning seemed almost to pre-empt the parting of the ways, with Dein pointedly not mentioned as one of the major shareholders who were not interested in selling up at this point.

It appears the decision on Dein’s part was quite sudden, as someone who saw him on Monday and knows him well has told me that, if something like this was in the offing, his demeanour would have been very different. The conclusion has to be that something blew up yesterday (was there a boardroom meeting on the afternoon of the Manchester City game?) and Dein has acted quickly as a result.

One thing’s for sure. Dein loves Arsenal. It is difficult to envisage him making this move unless he could see some way back in. His political career in the FA and UEFA/FIFA hierarchy has hit the buffers, so it is not as if he has good reason to withdraw from his role at the club.

My suspicion is that, at some later date, he will be back. Whether or not Arsene Wenger is still the manager at the club by that time remains to be seen.

Whatever happens, Wenger, as a man of honour, is almost certain to see out the remaining season of his contract. But without committing to the future, it will become a difficult season for players to motivate themselves for, as has been seen at Manchester United when Alex Ferguson announced he was definitely leaving at an early point of the 2001-02 campaign. Uncertainty doesn’t breed a winning mentality.

Interesting times… Can’t wait to hear what Arsene has to say.