Edelman Quits

Edelman (pictured, right, with club director Danny Fiszman) oversaw the club’s lucrative move from Highbury to the Emirates Stadium, as well as the securing of substantial foreign investment from American Stan Kroenke and Russian Alisher Usmanov.

He has declared he is leaving to pursue “a fresh challenge”.

Ken Friar, another current club director who has previously held Edelman’s post, has been appointed acting managing director while the club search for a permanent replacement, though Edelman “will be retained by the club for a 12-month period to ensure that a smooth transition takes place”.

The departure is the second significant change in the Arsenal hierarchy in less than a year.

In August 2007, vice-chairman David Dein resigned and sold his 14.6% stake in the club to Red and White Securities, the non-executive group owned by Usmanov and London-based Farhad Moshiri that Dein now heads. The group’s stake in the club is now thought to be around 24%.

Edelman told the club’s official website: “I have thoroughly enjoyed my time at Arsenal. It has been a very exciting period for the business and I am proud to have contributed to the club’s many off-field achievements over the past eight years, not least the Emirates Stadium project. Now that we have completed our second season at Emirates, I believe it is the right time to seek pastures new and embark upon fresh challenges.”

Club chairman Peter Hill-Wood said: “Keith has played a major role in the growth of the club since he joined in 2000. In that time we have successfully implemented the move from Highbury to Emirates Stadium that has underpinned the future of the business and confirmed our position as one of Europe’s leading clubs. We are grateful to Keith for his crucial role in this transformation.”