Arsenal chairman Peter Hill-Wood is adamant Arsene Wenger's relationship with the board is strong and wants the Frenchman to remain at the club beyond his current contract, despite the departure of Wenger's close ally David Dein.

Vice-chairman Dein, 63, has left the club and will cease to be a director with immediate effect because of "irreconcilable differences" at the centre of power.

Those differences are understood to be over the direction and ownership of the club, with Dein known to be very much in favour of the involvement of American billionaire Stan Kroenke, which put him at odds with Arsenal director Danny Fiszman and also chairman Hill-Wood.

Dein is the man credited with bringing Wenger to Arsenal more than 10 years ago and the pair forged a strong working relationship and personal friendship, but Hill-Wood insists there is no reason to think Wenger's future at the club should be in doubt just because Dein has left.

"I think it's well known that Arsene and David have got on very well over the past 10 years and I am certain that Arsene will miss him," Hill-Wood told Arsenal TV Online.

"However I believe the relationship that Arsene has with the rest of the board is good. He is on contract with us until 2008 and we very much hope that he will extend his contract beyond that, but we haven't got into talking details on that yet."

Hill-Wood denied Dein's departure was in any way to do with the transfer funds available to Wenger, and said: "We've always made funds available to Arsene, he attends the board meetings, he understands the financial position. I can assure supporters that we will continue to provide funds when Arsene requires them.

"We have a very good squad - young, maybe, but developing well and if Arsene wants to strengthen it we have the money to provide him with any reasonable purchases he wants to make."

Dein - who holds around 14 per cent of shares in the parent company of the Gunners, estimated to be worth around £57million - was key in Arsenal's transfer dealings but Hill-Wood insisted that other "senior executives" would fulfil the role.

"We have a number of senior executives at the club. We haven't formalised the arrangement yet but I'm certain that one or more of them will handle the matter of transfers in David Dein's absence."

Hill-Wood and the club's other principal shareholders have agreed not to sell any more shares "for at least one year" in order to reassure fans that the club's stability is not under threat.

"Personal circumstances can change but I can assure everybody that the principal shareholders who are on the board are committed Arsenal fans and have absolutely no intention of selling the shares after 12 months, but I think a commitment of 12 months should reassure people that we are not sellers," he said.

"David Dein has been with us a long time and although he is no longer a member of the board I'd like to pay tribute to all the good things he has done during his time with us. The club has been built on stability and

I'm confident that stability will continue with the traditions that the club has been built on in the past."