The Gunners are one of the six Premier League clubs that joined the European Super League last year.
But the controversial league collapsed just after 48 hours of its announcement.
Former Arsenal vice-chairman David Dein believes the owners of Arsenal are driven by the need to make money.
He tells The Daily Mail: ‘I was an Arsenal fan through and through and fortunate to be able to buy shares. Then there is the other type, who have money, buy a club, and then become a supporter.
‘To them, football’s a good investment or good for their profile. So they don’t have a connection.
‘I was a fan on the board. I could never have agreed to a project like the Super League. If I was there when that happened, I’d have resigned. They didn’t read the tea leaves. A closed shop?
‘Nobody has a divine right. Some of these owners think they’re too big for the rest of the league. They’re deluded.’
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