If this letter from the Arsenal Supporters’ Trust is anything to go by, it looks like only a matter of time before Stan Kroenke will be unveiled as the first new face on the Arsenal board since 2005 (a year that saw Lady Nina Bracewell-Smith, Lord Harris of Peckham and Sir Chips Keswick all appointed).

Kroenke would then be in a position to do two things. Firstly, he could ensure that he had greater influence on the subject of his investment in Arsenal Broadband and the media rights that go with that purchase. More significantly, he would have the option of buying any shares that his fellow directors might wish to sell before 2012 under the current lockdown agreement. Lady Nina Bracewell-Smith is one of the two most significant shareholders on the board (the other being Danny Fiszman) that could determine the club’s fate if their shares were ever sold. The informed view is that Lady Nina is more likely to sell than Fiszman, although the latter may contemplate selling himself on the guarantee that the sale would not involve the return of David Dein to the club.

The invitation to Kroenke is based on the threat a hostile takeover on the part of Alisher Usmanov, whose Red and White Holdings company is ‘fronted’ by Dein – although what exactly Dein currently does in his role as the concern’s chairman is something of a mystery. Fiszman and Dein do not get on at all and the reason for the former becoming far more active in club matters of late seems to be to ensure that Dein does not return to a position of power at Arsenal.

So initially, there was great reluctance to have any serious dealings with Kroenke, as he was seen to be in league with Dein. It was latter’s convincing the American that he could gain control of the club in tandem with the then vice-chairman by buying out Lady Nina that led to Kroenke’s purchase of ITV’s 9.99% of the club in 2007.

Representatives of the board subsequently met with Kroenke after Dein’s sacking and with Kroenke understanding that continued association with Dein would be fruitless, there was a sea change in the board’s attitude towards the new investor. ‘Silent Stan’ may also have been glad to ditch Dein after feeling let down by his promise of delivering Lady Nina’s shares. Dein reputedly tried to sell Kroenke his own shares a week before he sold out to Usmanov, although the guarantee of a seat of power in the event of a hostile takeover as part of the deal probably resulted in a rejection. Either that or Dein’s asking price was simply too high.

Whatever, as football looks set to suffer with an economic downturn in full swing, a prudent approach to football finances cannot be dismissed with the desire for big name signings. Look at Leeds United. There is a recession ahead and a lot of clubs are going to be caught out due to the contracts awarded to players.

Kroenke seems a canny operator going by his previous investments and fits in with the sound financial approach of the club. Fans want big star names and a huge increase in wages, but unless they are willing to pay a lot more to watch the team, conservatism has to sadly remain the watchword for the time being, especially with fears that Highbury Square may not prove as financially rewarding as previous estimates have indicated.

I believe the club is better run by being accountable and owned by a large number of individuals. If you are of like mind, I suggest you join the Arsenal Supporters’ Trust yourself. Stan Kroenke is just one of Arsenal’s thousands of part owners, but could improve things if he joined the board. He certainly seems a safer bet than Alisher Usmanov.

Those clamouring for Dein’s return should realise he is just a figurehead whose influence at Red and White is negligible. The man is history and partially responsible for Manchester United putting so much financial distance between themselves and Arsenal in the early 1990s. He would have us playing at Wembley every fortnight and paying an astronomical rent to the FA. His role in Wenger coming to club cannot be denied and he is unquestionably a huge fan. But not such a huge fan that he had a word with his son about asking for a £5 million loyalty bonus to be paid upfront to his client Thierry Henry when the player signed a contract extension in 2006. Henry’s final season at the club cost Arsenal around £10 million. I wonder what Darren Dein’s commission was on that? David Dein is not the man to take Arsenal forward in my personal opinion.

It’s going to be a very interesting 2008/09 both on and off the field…