ARSENAL are ready to make their new managing director the highest-paid executive in football. Director Danny Fiszman has ordered headhunters to scour the worlds of football, industry and media to find the “best person” for the job after Keith Edelman was forced out of his £1m-a-year post last week.

Early names in the frame include Premier League chief executive Richard Scudamore, Birmingham City’s Karren Brady, London 2012 chief executive Paul Deighton and former Pepsico chief Michael Glenn, a director of Leicester City. Although Arsenal have begun a tentative search for Edelman’s replacement, it is understood that they are willing to bide their time. Fiszman is looking for a person in the mould of Scudamore or David Gill, who can take some of the weight off the shoulders of manager Arsène Wenger on the football side.

Arsenal, who recorded a turnover of £200.8m in their last set of yearly accounts, are willing to exceed the £1m-plus salaries of Manchester United’s Gill and Chelsea’s Peter Kenyon. “Arsenal have the money. It’s all about finding the right person. That’s what Danny wants and it will be his appointment,” said a source close to the board.

Edelman was told by Fiszman he was no longer required because it was felt Arsenal needed a managing director who would “spend 30% of his time on football rather than 5%”. He is credited with securing the finance for the Emirates stadium and negotiating long-term commercial deals. However, it was felt among board members that the club “almost runs itself” on the business side and that the requirement is for a managing director who can offer greater support to Wenger. It was felt that Edelman, while a skilful business operator, was not enough of a football “obsessive” to take the club forward.

Concern at the manner in which France international Lassana Diarra was allowed to leave for Portsmouth in January has been compounded by frustrating contract negotiations with Mathieu Flamini, who is close to completing a switch to Internazionale.

Although former vice-chairman David Dein would appear to have many of the qualities required, there is no chance of a return for Wenger’s long-time ally, especially while Swiss-based diamond dealer Fiszman, with whom he fell out so spectacularly many years ago, holds sway at the club.

It is understood that Arsenal have now abandoned their search for a director of football, which they undertook in the wake of Dein’s departure 12 months ago, in favour of a managing director who has similar powers to the more traditional chief executive. Scudamore would appear to fit the bill. He is dynamic, a skilled operator in sports politics and, following the Premier League’s 39th-step fiasco, he may feel it is time to move on.

The Arsenal shortlist

RICHARD SCUDAMORE The Premier League chief executive fits the bill. Excellent contacts and a skilful negotiator but his reputation has been harmed by the 39th game fiasco.

KARREN BRADY The Birmingham City managing director knows football politics inside out after 15 years at St Andrews. She is a lifelong Arsenal fan and has a good relationship with the club.

PAUL DEIGHTON The London 2012 chief executive was an investment banker and has a strong business background. Another ‘Gooner’.

MICHAEL GLEN The Leicester City director and former Birds Eye chief has a proven record of brand building.

MICHAEL GRADE The high-profile ITV chairman and Charlton director has a solid business and media reputation.