Russian billionaire Alisher Usmanov has issued a statement to the Stock Exchange confirming his Red and White Holdings company “has no current intention to make an offer” for Arsenal.

Arsenal managing director Keith Edelman believes manager Arsene Wenger will stay with the club for at least another eight years – but scotched suggestions the Frenchman would be handed a seat on the board.

Arsene Wenger insists he is unconcerned by the possibility of a takeover by Russian billionaire Alisher Usmanov at Arsenal.

Arsene Wenger has declared he does not need outside investment to compete with his bigger-spending rivals as he closes in on agreeing a new contract.

Former Arsenal vice chairman David Dein has re-emerged as a central figure in the club’s future by becoming chairman of a company that has pledged to buy shares in the club.