HILL-WOOD: MOVE WILL HELP US COMPETE
The Gunners were given a massive vote of confidence by Islington Council, with 34 of their planning officers voting in favour with seven opposed.
Hill-Wood believes they will be able to operate on a level playing field when they move to the 60,000-seater stadium, although the deal needs the approval of Mayor of London Ken Livingstone.
Hill-Wood said: "This means we will be able to compete financially with the big boys of Europe."
The new £300 million ground is likely to raise Arsenal`s annual income by around a tenth of that figure.
The massive cost of the project is not solely to develop the ground, as The Gunners will have to make improvements to Holloway tube station, convert Highbury into flats and build a new waste transfer site which is currently at Ashburton Grove.
Arsenal vice-chairman David Dein spoke for the majority of the club`s loyal supporters by stating it will be a wrench to leave Highbury, their home since 1913.
Dein said: "In your heart you would always want to stay at Highbury, but we`ve got to move to be able to compete with the likes of Manchester United."
Gunners boss Arsene Wenger believes the move will persuade the club`s top stars that Arsenal is the best place for them to be.
Patrick Vieira is still reportedly unsettled, with Real Madrid waiting in the wings, but Wenger believes they can be just as big.
He said: "The message we've given out in recent years will stop other clubs trying to do silly things. Who would want to sell their best players?
"That time's gone at Arsenal. Now we have a belief and are behaving like winners."
Star striker Thierry Henry appears keen to stay, adding: "I'm very happy here and committed to the club. All the signs are we can achieve long-term success."
Meanwhile, veteran defender Tony Adams has earmarked a return to action in the crunch Premiership encounter with Liverpool on December 23.
The England international has not figured since September 22 because of an ankle problem, but he thinks he is close to a comeback.
"With more running and gym work I believe I can be ready in 10 days or so," he said.
He did reveal inner torment at his lack of action, adding: "There have been times when I have been close to throwing in the towel but, now, I am almost ready and, hopefully, I will be back for the busy Christmas period."