David Dein was of course the man who brought Arsene Wenger to the club, and was always his biggest ally on the board. I'm keen to hear Wenger's view on the resignation, and keen to hear who will conduct transfer negotiations in the summer - This was always Dein's job, and frankly he was bloody good at it.
This story could run and run - As fan's, let's keep an open mind at the moment and not jump to any premature conclusions.
Here's the full statement from the club:
"Arsenal today announces that vice-chairman, David Dein has left Arsenal Football Club and ceases to be a director of the Club with immediate effect.
Arsenal Chairman Peter Hill-Wood said: "On behalf of the Board I would like to express our gratitude to David Dein for the many years of loyal service he has given to the Club. We sincerely regret that irreconcilable differences between Mr. Dein and the rest of the board have necessitated a parting of the ways."
In light of recent speculation with regards to the ownership of the Club, the remaining Board members, who together own 45.45% of the issued share capital of the Company, would like to reassure the supporters, shareholders and employees of Arsenal Football Club that they remain long-term holders of their interests in the Club. To this effect, they have entered into an agreement not to dispose of their shares for at least one year and have confirmed that they intend to retain their interests on the expiration of this period."