“Today’s announcement by Red and White Holdings marks a significant step towards realising the vision I share with thousands of fans at home and abroad of making Arsenal the world’s Number One Football club.

I have not lost my passion for the club; indeed it is greater than ever. I have been flattered by the generous offers I have received since April to work with other clubs in England and elsewhere. But there is only one club for David Dein and that is Arsenal.

I am delighted to be Chairman of Red and White. My ambition remains to play an active role in Arsenal again. My immediate intention is to work with others to provide the financial resources necessary to turn the vision of Arsenal as the world’s number one club into reality.

To provide these financial resources. Arsenal need new investors. I welcomed the involvement of Stan Kroenke earlier this year. The creation of Red and White today is equally welcome. The reality is that football is rapidly changing. A growing number of clubs are being funded by individual or consortia that are prepared to invest previously unimaginable sums of money aimed at winning the game’s biggest prizes.

I believe that the Board should welcome non British involvement in the club given the wealth of nationalities responsible for Arsenal’s success on the pitch, including that of its manager.

Yes, I want Arsenal to be number one. But without new investors I fear very soon that Arsenal might not be able to compete successfully at the very top level despite the fantastic work of Arsene Wenger.

I have maintained my close friendship with Arsene Wenger. I believe our professional partnership over many years was highly successful and beneficial for the club we both love. I hope it can be resumed. Meanwhile I want Arsene to continue as manager and Indeed I have encouraged him to sign a new contract.

Since April I have deliberately kept my thoughts to myself. I have reflected on what best I should do in the future interests of the club.

I have always had the best interests of Arsenal at heart – I have had a love affair with the club since I was six. I firmly believe the involvement of Red and White with a significant stake, and the long term commitment of Arsene Wenger are absolutely the best outcome for the club, fans and shareholders alike”.

Response from the Arsenal Supporters’ Trust

“The Arsenal Supporters’ Trust is grateful to David Dein for inviting us to the announcement of the establishment of Red and White.

“The AST has recently met with many of the club’s Board members including Danny Fiszman, Peter Hill-Wood, Ken Friar, Sir Chips Keswick and Keith Edelman. We also have discussions with major shareholders such as David Dein, Stan Kroenke and Lansdowne Partners.

“The AST is pleased that Red and White said today that they recognise the important role the AST plays and that they aim to maintain a dialogue with us. We know David Dein well and we know he cares passionately about Arsenal. It is a great reassurance to us that he will continue to represent the equity stake he previously held.

“We do not know Mr Usmanov and Mr Moshiri. We note their investment in Red and White and look forward to meeting them soon to discuss their aspirations for Arsenal. The AST will not shirk from reminding them of the responsibility their new role brings and that they must cherish the history of the club and understand that Arsenal is its supporters. We will also tell them that we expect them to seek to work with, not against, the current Board, who in recent years have given us both the best stadium and the best football ever played in England.

“Red and White have made it clear they are not presently planning a takeover. David Dein knows that the AST is wholly against a Glazer style takeover at Arsenal. The AST will fight any takeover based on excessive debt or extracting short term profits through increasing ticket prices."

For more information about the Arsenal Supporters' Trust and details of how to become a member click here - membership is open to all Arsenal supporters that have an interest in the ownership of the club, including shareholders.