Ok a quick roundup of this morning's news.

Peter Hill-Wood has said that Wenger does have money to spend this summer:

"We've always made funds available to Arsene, he attends the board meetings, he understands the financial position. I can assure supporters that we will continue to provide funds when Arsene requires them.

"We have a very good squad - young, maybe, but developing well and if Arsene wants to strengthen it we have the money to provide him with any reasonable purchases he wants to make."

 We know there is around £36-40m in cash reserves available for transfers and that the board has never said "No" to Wenger. With Dein gone, however, will this change? My feeling is probably. Wenger's lost his biggest ally.

 "He is on contract with us until 2008 and we very much hope that he will extend his contract beyond that, but we haven't got into talking details on that yet." 

"We have a number of senior executives at the club. We haven't formalised the arrangement yet but I'm certain that one or more of them will handle the matter of transfers in David Dein's absence,"

I find myself wondering if/when Kroenke will join the board. We know from his roles at his American teams that he likes a hands-off approach so he won't be a like-for-like replacement for Dein. Whatever happens, Wenger must stay and he must be supported by the board, whomever that may be!

I have however warmed slightly to Mr Kroenke after reading these comments in a letter to the Arsenal Supporters' Trust (AST), published in the Daily Mail:

 "I see long-term value in football," 

"I recognise and appreciate the AST's role and contribution to the club and the valuable perspective you provide to shareholders, board and management.

"Over the next month I look forward to learning more about the club through a dialogue with you. We much admire the values of the club."

Kroenke is set to meet with the Supporters Trust in the next month to discuss the issues surrounding his involvement. However, he admits he will have to launch a hostile takeover if the board remain opposed to him. My feeling is that the owners of 26% of the shares not owned by the board or Kroenke are set for a windfall as the two parties bid for control of the Club.