Edelman leaves Arsenal

Edelman: Gunners departure

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Managing director Keith Edelman has parted company with Arsenal 'in search of a fresh challenge', the club announced to the Stock Exchange on Thursday morning.

Edelman has spent eight years at the club and oversaw the move to Emirates Stadium from former ground Highbury.

He has resigned as a director of Arsenal Holdings PLC but 'will be retained by the club for a 12-month period to ensure that a smooth transition takes place'.

Friar role

Edelman said on 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."

A club statement read: "The board has already initiated the search for a new managing director and will update shareholders and stakeholders when appropriate.

"In the meantime, director Ken Friar, who has a wealth of football-based experience and business acumen having previously occupied the role of managing director (1982-2000), will assume the position of acting managing director."

Transformation

Chairman Peter Hill-Wood added: "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.

"Under Keith's stewardship the club has achieved record profits and the Board owes him a debt of gratitude for his contribution. We wish him the very best for the future."