Arsenal chief Ivan Gazidis acknowledged an end of an era as Stan Kroenke completes his takeover of the club.
Kroenke has asked the existing Arsenal board to remain in place.
Arsenal's independent directors - chairman Peter Hill-Wood, chief executive Ivan Gazidis, Ken Friar, Sir Chips Keswick and Lord Harris of Peckham - are recommending that shareholders accept Kroenke's offer.
"It's the end of an era but it's also the beginning of an era," said Gazidis.
"We're looking forward to Mr Kroenke bringing his sports experience to the table. As you know, he's a long-term owner in sports teams in the United States.
"His current football team, or soccer team, in the United States the Colorado Rapids are the current Major League soccer champions. And he's had success across his different sports businesses so I think that we can anticipate that this will be a positive deal."
