Arsenal chairman Peter Hill-Wood has performed a dramatic U-turn and opened the door to investment from American businessman Stan Kroenke.Kroenke made an attempt to increase his 12% stake in the club last year but Hill-Wood was less than impressed, insisting: "We don't want his sort".

However, since meeting Kroenke, Hill-Wood has changed tack.

He said: "Contrary to what I said before, I now believe he may have a vital contribution to make to the future of this football club.

"I am not denying I said what I said, but I made those observations before meeting Stan. I have now got to know him and I have changed my opinions.

"When I hadn't met him, yes, I didn't think he was the right person to take control of Arsenal Football Club. Now I know him as a man who is very much steeped in sport. He is a sports man.

"He already has a link through our broadband rights and there is every reason to expect that we shall discuss further how his involvement can be extended."

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