Enlightened Arsenal let fans buy £100 shares

The biggest shareholders of Arsenal have come forward to endorse a scheme designed to give fans more of a say in the way the club is run - apparently signalling an end to a boardroom battle to gain control of the Gunners.

The move suggests that the a truce has been called between the major boardroom players at the Emirates and is a clear rejection of trend among other Premier League clubs towards rich patrician owners - who finance transfers but often saddle the club with debt and are unpopular with the fans.

The Fanshare scheme, run by the Arsenal Supporters Trust, will be heavily promoted by the club this season and aims to give fans a stake in the Gunners for as little as £100 each.

The club's 62,000 individual shares currently trade at £10,250 each, valuing Arsenal at almost £640m. But under the scheme supporters will be able to buy one fanshare, one 100th of an actual share, for £100. In return, the member will secure full shareholder's rights: the chance to attend the annual general meeting, ask questions of the directors and vote on policy.

It is similar to the system in place at Barcelona, where thousands of fans have a say in how the club is run.

Importantly the four major shareholders in the club - US sports tycoon Stan Kroenke, Uzbek oligarch Alisher Usmanov, tax-exile Danny Fiszman, and Lady Nina Bracewell-Smith (who is looking to sell her stake) - have all backed the scheme.

Tim Payton of the Arsenal Supporters Trust said: "It is hugely significant that all the major Arsenal shareholders have given their support and that suggests talk of a takeover can be put to one side."

Prior to the Fanshare launch it was assumed that Kronke was readying himself for a takeover, having brought up 29.9 per cent of the club - just shy of the 30 per cent stake that triggers a takeover bid. Usmanov was just behind him with 27 per cent.

Arsenal chief executive Ivan Gazidis said: "We believe it is fundamentally helpful to the club to have supporters who are active and engaged. The important thing is that supporters are valued and nurtured, not exploited. That is good for the club's soul, and for its all-round health."

The attitude at the Emirates is in stark contrast to that at clubs like Manchester United and Liverpool, where the supporters are in open revolt against the owners, the Glazer family and the Americans Tom Hicks and George Gillett.

Arsenal are already regarded as one of the best run clubs in the country after maintaining control of their finances despite building a huge new stadium, and recorded record profits and turnover last year.

The new scheme has even drawn praise from the Government. The sports minister, Hugh Robertson, described it as "enlightened and forward-looking", and said: "This is a model I'd like to see other teams explore."

All that is now required is for success off the pitch to be mirrored on it - something that was a major concern for members of the Arsenal Supporters Trust in a recent survey. ·