LONDON - Arsenal managing director Keith Edelman warned fans yesterday that a takeover by an overseas investor may not be good news for the club, amid mounting speculation that American billionaire Stan Kroenke is set to launch a bid.

LONDON - Arsenal managing director Keith Edelman warned fans yesterday that a takeover by an overseas investor may not be good news for the club, amid mounting speculation that American billionaire Stan Kroenke is set to launch a bid.

Kroenke, who owns just over 12 percent of the club's parent company, is thought to be keen to increase his financial involvement. He could face competition from Formula One supremo Bernie Ecclestone, who has links to ousted Arsenal vice chairman David Dein.

While Edelman insisted the board "welcomes" Kroenke as a shareholder he warned fans that any overseas investor will attempt to take more money out of the club than they put in. - Sapa-AFP