Posted July 05, 2012 on AP on Fox
Arsenal's second-biggest shareholders have written to owner Stan Kroenke expressing ''deep reservations'' about how the American is running the club after captain Robin van Persie refused to sign a new contract. Alisher Usmanov and Farhad Moshiri say in the letter obtained Thursday by The Associated Press that a ''tight'' financial regime is leading to manager Arsene Wenger ''selling his best players and having to continue to find cheaper replacements.'' They complain that ''we are faced with losing our true marquee player'' because we cannot ''give confidence that we can win trophies,'' asking ''where are the safeguards to ensure that this doesn't happen again and again?'' The pair own just under 30 percent of Arsenal through investment company Red & White but haven't been allowed by Kroenke to join the board.

Shareholders criticize Arsenal board

Arsenal's second-largest shareholders have written an open letter to the board expressing "deep reservations" over the direction of the club in the wake of captain Robin van Persie deciding against extending his contract. Red & White Securities Limited, fronted by Alisher Usmanov and Farhad Moshiri, hold around 30% of shares in the Gunners' parent company,...
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