Arsenal's second-biggest shareholders have told Stan Kroenke they have "deep reservations" about how the American is running the club, a day after captain Robin van Persie announced he will not sign a new contract.
Alisher Usmanov and Farhad Moshiri said in a letter obtained on Thursday by the Associated Press the "tight" financial regime at the club is has forced manager Arsène Wenger "selling his best players and having to continue to find cheaper replacements".
They also complain how "we are faced with losing our true marquee player" because the Gunners "give confidence that we can win trophies".
Usmanov and Moshiri own just under 30 per cent of Arsenal through investment company Red & White, however Kroenke has not allowed them to join the board.
Their letter went on to read:
"As a top club we should, at the very least, match if not beat the offers that other clubs make to try and lure our very best players away, and also provide a more compelling vision of the future.
"You can try and put a good face on a bad game for as long as you want, pontificating about the merits of this model, but it will not hide the obvious fact that it just does not allow our great manager [Arsène Wenger] to fully realise his managerial talent and deliver success for the fans who are paying the highest prices in the land."
Van Persie yesterday revealed he would not extend his contract, which has less than a year remaining on it, at the Emirates stadium.
His probable departure this summer would follow the sales of Cesc Fàbregas to Barcelona and Samir Nasri to Manchester City in 2011 for a combined sum of £55m.
Wenger said prior to both players' exits last summer: "Imagine the worst situation - we lose Fabregas and Nasri - you cannot convince people you are ambitious after that."
Kolo Touré, Emmanuel Adebayor and Gäel Clichy have also been sold to City over the last three years, and their manager Roberto Mancini has not hidden his admiration for Van Persie.