The board of directors at Premier League leaders Arsenal have extended their lockdown agreement to prevent any attempt to take over the club. Russian billionaire Alisher Usmanov has upped his stake in recent months to a reported 23% and is interested in a takeover bid. However, in order to increase his stake he would need to look at the majority shareholders who are now in agreement. The extended lock down means that none of the directors can sell before April 2009 (unless to permitted persons) and even then board members must be given first refusal up until October 2012.

Board and manager alike have held firm in recent months and sustain their belief that the club does not need outside investment. After posting record returns last month the club continues to move from strength to strength backed by capacity crowds at their new Emirates stadium.