Going OK on the park (let’s not get too carried away but we couldn’t have asked for a better start in terms of results Blackburn away and Lehmann’s soppy handling error apart) but off the park I’m really sh*tting it. I can’t believe how David Dein’s ego has led him into bed with a (phrase deleted to avoid legal action)

On the park Almunia has reverted to his previous tendency to come steaming out of his goal Kamikaze stylee. Never thought he was going to be a top drawer player but he’s actually done quite well when he’s played since his catastrophic run when Lehmann was dropped. Lehmann has reverted to his error-prone ways after a superb 2005/6. Fabianski is too young to sling in the deep end as first choice so I think the best thing would be to go for an experienced goalie in the window. Somebody like Given or Friedel might be the go if they were available. Good, solid keepers but not too old to block off Fabianski for too long. He looks to have a lot of potential to be outstanding to me.

I also think we still need a real top quality centre-half. I actually snatch Sol Campbell’s arm off if he’d come back. Whatever was doing his head in seems to have been resolved. The problem is I can’t see any of these players being let go in the window. Gilberto is fine as a back up but he’s not out of the top drawer as a centre-half. Bringing back Djourou from Brum is an obvious move in the window but I’d still feel more comfortable with a really experienced, mean Steve Bould/Martin Keown/Tony Adams/Fabio Cannavaro type. I think Gallas is a good defender but he doesn’t have a commanding presence in the air.

Aside from that I’m reasonably optimistic about this season on the park provided the club doesn’t get involved in a really bloody fight off the park. Mind you I’d rather that than having Alisher Usmanov in any position of influence. I’m far from convinced about what Kroenke could bring in ownership terms (plenty to learn from the Yanks in terms of marketing and fan relations but that can be got without selling the club). I’m sceptical but open-minded about him. My opposition to Usmanov is pretty visceral though. I for one won’t be renewing my season ticket if he gets his feet under the table. In fact I doubt I’ll ever set foot in an Arsenal game again. This would really break my heart but I’m not going to have anything to do with a (phrase deleted to avoid legal action) like that.

As you know, the moment Usmanov goes over 30% he’s GOT to make an offer for the whole club at £10,250 per share that's very nearly £637 million plus the £260 million debt for an enterprise value of £897 million.

With the banks all filling their trousers around the world at the moment they’ve stopped throwing money around like drunken sailors for private equity deals. The one thing about rich people that’s pretty universal is they don’t give away the steam off their p*ss if they can help it (a gross generalisation I know but it’s far more often true than not). They just love taking risks – with other people’s money.

I doubt any bank or syndicate of banks in their right mind(s) is going to lend him the money unless he makes a Russian bank an offer they can’t refuse. So he’s left with using his own wedge for at least a large proportion of the buyout. So, the club’s enterprise value is almost £900 million with the market cap and the outstanding loans for the Grove. IF, IF, IF Daniel Fiszman can be persuaded to hold firm even if the board lose majority control, there would be enough refusniks amongst the small shareholders to prevent Usmanov passing special resolutions to change the memorandum & articles of association in his favour. Fiszman’s got 24.1%, and I have no doubt that the extra 1% needed for the 25% to plus one share to block special resolutions could be scraped together. That COULD be a big deterrent to Usmanov. The club isn’t worth nearly as much to him if he can’t get 100% ownership and take it private.

That would f**k Usmanov as he couldn’t do all the things he’d need to do to re-structure the club’s capital base. I’d DEFINITELY be up for that fight. The problem is I don’t suppose for a moment Danny Fiszman will be. I’d LOVE to be wrong about that and he’s said all the right things so far but I simply don’t trust him to do what’s best for Arsenal rather than him. Having sold the small number of shares to Kroenke (I still can’t believe he was stupid enough not to know where they were going, despite his protestations to the contrary) he’s lost the ability to effectively determine what happens at the club on his own. He’s also surrendered the necessary 75% majority to pass special resolutions and put in a “poison pill” defence which would ward off predators.

I would dearly love to have time on my own with Fiszman to explore ways he can really walk the walk and save Arsenal’s soul. I’m arrogant enough to think I’ve got the way forward. Unfortunately it would mean him kissing goodbye to tens of millions of pounds - which he’s never going to do. My plan would see him getting every penny back he’s ever spent on Arsenal shares, plus interest plus a healthy 20% profit over and above what’s he’s invested in Arsenal shares over the years. He hardly needs the money as he’s worth £120 million aside from his Arsenal shares. As I said, not the way rich people think though I’m afraid. If he didn’t care about money he wouldn’t be living in tax exile.

All in all I’m f**king depressed but definitely up for a ruck. Not going to battle my bollocks off to make Fiszman even richer than he already is however. F**k that. If he wants to ‘ave it with the pirates taking over our game though, I’ll more than happily dust off my tin hat and fix bayonets.