Excellent news about the future ownership of Arsenal has emanated from the Annual General Meeting held today at the new stadium. Our chairman Peter Hill-Wood stated “Members of the Board are committed long-term shareholders and to strengthen the current position they have entered into a new agreement which replaces the existing lock-down agreement which expires next April.

“Under the new agreement, the Board members have agreed not to dispose of any of their interests in the Club before 18 April 2009, other than to certain permitted persons such as close family. After that date, for the remainder of the term of the agreement, they can only sell their shares to another person if the other parties to the agreement do not wish to buy them. The agreement is for five years (until 18 October 2012), although it can be terminated early by the parties on its third anniversary (18 October 2010).”

Cutting through the legal speak I think we can all breathe a (temporary) sigh of relief as the Directors seem determined to thwart the aggressive attempts to control Arsenal Football Club, being made by Messrs Usmanov & Dein. And I think we should be under no illusion that this agreement is aimed firmly at Dein – he really has shot himself in both feet over the past 6 months.

In the current football climate of “get rich quick” it is refreshing to see the Arsenal Board of Directors taking a long term approach designed to enrich our Club, not the pockets of oligarchs that have no historical connection to Arsenal. I’d like to think that we, the supporters, have played our part by visibly demonstrating that we are 100% behind the current board.

If anything, this sorry saga may have made Arsenal a stronger club. Up until Dein’s departure the Board of Directors had been pretty poor at communicating with supporters but now they know they have to seek allies wherever they can - 60,000 people telling Red & White Holdings to go and hold something else is a powerful message!!

Only time will tell what Red & White’s next move will be, I don’t expect them to go away quietly nor do I think the current board can afford to buy back the 23% shareholding. One thing is for sure though, we cannot become complacent – we must take every opportunity to let Dein & Usmanov know that they are NOT welcome at Arsenal. I couldn’t help thinking “if only Dein had been more inclusive” but seeing the depth of feeling by fans and directors since Dein courted Usmanov, this slight blip in Arsenal’s long and proud history might turn out to be a blessing in disguise.

Also at today’s AGM – how brilliant to see the Board commission a bronze bust of Arsène Wenger that will soon take pride of place at the new stadium. I’m having to pinch myself but they seem to be getting much more in tune with the supporters. (Ed’s note – or maybe not if you have read about the club’s apparent abrupt about-turn over venue hire connected with Friday’s funeral)

There will be much discussion about these events on Saturday at home to Bolton, but let’s try to create a rousing atmosphere and show everyone how much we care for our Club and how much we appreciate the excellent work done by Arsène.