Dealing in Arsenal shares have been suspended on the London OFEX share market, with rumours circulating that the North-West based broadcaster Granada is poised to announce the purchase of a stake in the Gunners.

'The Company's Advisers have requested, and J P Jenkins Ltd has granted, a temporary suspension in the shares of the Company with immediate effect, pending an announcement in due course,' said an official statement.

Granada's main football interest at the moment is in Liverpool, with the familiar 9.9% stake - to keep it beneath the crucial 10% threshold, which would prevent them taking interests in other clubs.

Despite their traditionally northern bias, Granada mightn't be a bad partner - as they do have a foot in both the satellite and terrestrial TV businesses. And with Arsenal the only major Premiership side not to have a TV company among its owners, it's surprising that it's taken so long.

We'll keep you posted.