Arsenal reported to be seeking Russian cash boost

Arsenal dismissed as "purely speculative" fresh reports indicating the cash-strapped club is seeking to persuade Russian tycoons to invest in the club.

In the latest in a flurry of similar reports to appear in the English media, The Guardian newspaper reported on Thursday that Arsenal vice-chairman David Dein had made indirect approaches to two leading Russian businessmen, aluminium magnate Oleg Deripaska and Vladimir Potanin, an industrialist with interests ranging from oil to newspapers.

An Arsenal spokeswoman told AFP: "There has been an endless stream of stories like these. As far as we are concerned they are purely speculative."

Such denials are however unlikely to stem speculation about Arsenal's future given the club's current financial problems and the enthusiasm of foreign investors for English football.

This week alone has seen Leeds reportedly receive a cash injection from a UAE businessman, Sheikh Mubarak al-Khalifa, as well as Thai Prime Minister Thaksin Shinawatra expressing an interest in buying Fulham.

Arsenal had to look on enviously this summer as London rivals Chelsea spent 110 million pounds on new players after the club was bought by Russian billionaire Roman Abramovich.

Abramovich had considered a bid for Arsenal but was reportedly put off by uncertainties concerning the club's planned move to a new 400-million-pound stadium, which prevented manager Arsene Wenger from significantly strengthening his squad in the summer.

Arsenal are currently attempting to finalise a financing package for the move with a consortium of banks and club officials hopeful that a deal will be concluded by the end of the year.

That should allow Wenger to re-enter the transfer market in January but it will also make Arsenal a more attractive target for potential predators.