Arsenal have had no contact over a potential takeover, sources told the Press Association on Sunday, amid reports of a looming record bid by a Gulf consortium.
Reports in British newspapers suggested that an investment group backed by funds from Qatar and the United Arab Emirates were preparing a STG1.5 billion ($A2.24 billion) bid for the English Premier League club.
However, sources close to the Gunners’ board told Britain’s PA domestic news agency that there had been no approach – informal or otherwise – to the US owner Stan Kroenke, who has no intention of selling his controlling stake and remains “in it for the long term”.
Kroenke pushed through his more than STG430 million ($A643 million) takeover in April 2011, and holds almost 67 per cent of the club, giving him overall control.
Uzbek oil magnate Alisher Usmanov remains Arsenal’s second largest shareholder with a 30 per cent stake, but does not have a seat on the board.
If Kroenke accepted the bid, the same offer would be made to Usmanov.
The bid would dwarf the STG700 million ($A1.05 billion) that the Glazer family paid for Premier League leaders Manchester United.
It also underlines the Gulf interest in Premier League football, with champions Manchester City being owned by Sheikh Mansour bin Zayed Al-Nahayan of the Abu Dhabi ruling family.
The Sunday Telegraph quoted a source as saying: “Arsenal is in a pivotal position at the moment. From our point of view, it is the perfect moment to make this bid because, at this moment, you can still genuinely justify this extraordinary valuation on the club.”
The newspaper reports suggested that, if successful in a potential takeover, the consortium would help to drive the Gunners back to the top of European football, slash ticket prices and stop the sale of star players such as former captains Robin van Persie and Cesc Fabregas.
Arsenal issued no official response to the reports on their website or Twitter feed.