Peter Hill-Wood has accused David Dein of destabilising the club and says Arsenal will not sell out to Alisher Usmanov.
The Russian billionaire increased his stake in the club to 21 percent on Tuesday and that has not gone down well with Arsenal chairman Hill-Wood, who does not want to sell out to his company Red and White Holdings Ltd.
Hill-Wood is not happy with David Dein's involvement with Usmanov and would prefer to hold talks with American businessman Stan Kroenke.
"I would think Kroenke is probably a long-term investor and I would welcome him as a shareholder more than Usmanov - unquestionably," Hill-Wood told the Daily Telegraph.
"He is involved in sport and understands it. As for Usmanov, I am not sure what he wants or why he wants to get involved. He is clearly a very determined fellow, but it won't get him anywhere. It doesn't change anything.
"The board is absolutely resolute and they have no intention of selling to Dein and Usmanov. This is all very disruptive and I can understand the fans being upset. The club has been stable for many years and this is destabilising it.
"I think David is very much the architect of that."
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