Arsenal director Keith Edelman says he is wary that any potential investor may well try to extract more money out of the Club than they would actually invest.

Speculation suggests billionaire Stan Kroenke will launch an initial friendly takeover bid but if that fails he will table a hostile bid after approaching various stake holders for their shares.

 Edelman reiterated the Arsenal board's opposition to a takeover and said: "Anybody who invests in a club, particularly from overseas, will want financial returns.

"Some other clubs with billionaire owners, their debts are mounting up."

Kroenke, who currently owns just over 12% of the club's parent company, is thought to be keen to increase his financial involvement, and Formula One boss Bernie Ecclestone has refused to cancel out a move either.

Edelman insists the board "welcome" Kroenke as a shareholder, he added: "That is the beginning and the end of the story at this juncture.

 "I think the current shareholders have committed themselves to the club and believe in the club.

 "Our current shareholders have been incredibly generous with the club and haven't taken a dividend for very many years.

I just want to make sure that fans really do understand that if a billionaire buys any club in the country, it doesn't automatically mean that they're going to have success or be able to invest further sums in the squads.

 "What is really important is that the business runs from the funds that it generates itself.
"Part of my job is to make sure that we generate the maximum amount of revenue that we can so that we can invest in the squad."

Edelman is also convinced Wenger will extend his stay at the club.

 He said: "We are quietly confident that Arsene will remain the manager for a few years to come. We are in constant contact with him and are awaiting his decision.

"Hopefully he will inform us that he is going to stay. He has brought some great football and a lot of honors but we would like some more under him."

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