Arsenal are in a tricky position as they could be breaking financial disclosure rules if Arsene Wenger do not make a decision on his future.
As per the EU law, all companies must reveal any information to potential investors that makes a material difference to the future value of the company in order to limit the potential for insider trading.
Despite not having much trading for Arsenal shares, which normally occurs very rare, the club are listed in NEX Exchange in London and they shall remain in the regulations of exchange.
The 67-year old has so far not revealed about his future as he said: “I know what I will do in my future so you will soon know very soon.”
The news could be a massive blow for the club as the onus is on the board to put an end to the speculations surrounding Wenger’s future as a change would make rapid changes in their shares.
However, a spokesman in NEX said: “NEX would not want to comment on the actions of Arsenal Holdings plc but I am sure they are aware there is a disclosure obligation within the full set of directives that are identical to the London Stock Exchange and set by EU law. It falls to Arsenal to ensure that they comply with them.”
Sir Chips Keswick, chairman of Arsenal is a well respected person in financial circles in the country and is aware of the situation. The board are also keen to ensure that they remain in the regulations of NEX.
A spokesman from Arsenal board said: “We fully understand our commitment to the exchange and will fall in line with whatever is required.”