Arsenal and Aston Villa may be the next British football clubs to follow the lead of Manchester United and team up with a media empire. Arsenal's value on the London's Ofex market rose almost 38 per cent yesterday to £224 million sterling (£254.6 million) after the club announced that it was in discussions with the media group, Carlton Communications. Last night, Aston Villa confirmed that it too was holding talks with an as-yet unnamed communications firm - possibly also Carlton - about a possible takeover. The Birmingham-based club's financial director said: "We have had talks with a communications firm and there is a chance that a deal might be wrapped up in the same way as with Manchester United."

Stock market analysts believe that it is simply a matter of time before other clubs such as Liverpool, Newcastle United and Chelsea follow suit.