Severe rifts resurfaced in Arsenal’s boardroom last night as two directors left, the third and fourth to move on in less than two years. Lady Nina Bracewell-Smith, who holds a 15.9 per cent stake, was asked to leave after a row in the past few days with Peter Hill-Wood, the chairman. Her departure and that of Richard Carr, who has been a director for 27 years, come in the wake of the dismissals of David Dein as vice-chairman in April 2007 and Keith Edelman as managing director a year later.

Arsenal’s tersely-worded statement to the financial markets will add to speculation that there are problems at the top of the club. Bracewell-Smith’s departure is significant because it could intensify the battle for control of Arsenal. She exits a lock-down agreement and would be able to sell her shares, including to Alisher Usmanov, the club’s largest shareholder, who has a 24.9 per cent stake and has been stalking the club since he bought Dein’s stake in August 2007. Under normal market rules, Usmanov would be obliged to make an offer for the rest of the shares if his stake rises above 30 per cent, but he may be able to obtain a waiver from this.

Bracewell-Smith has been marginalised in recent years, and despite being on the committee to appoint the club’s chief executive recently, her choice was overlooked and Ivan Gazidis was appointed. She was also unhappy about being sidelined from a commercial deal in India, despite bringing the proposition and contacts to the table. Arsenal tried to appease her this week by offering a life president role, but the disagreements were too large.

On the pitch, Cesc Fàbregas is hoping that Arsenal are not paired against Barcelona when the draw for the first knockout stage of the Champions League is made in Nyon, Switzerland, tomorrow. The Arsenal captain is a Barcelona supporter and worked his way through the youth ranks at the Catalan club before leaving for London five years ago. “I don’t want Barcelona, but I know whenever you say you don’t want something that’s what you get,” Fàbregas said.

Arsenal finished behind Porto in group G and will be drawn against the winners of one of the other groups. Barcelona, Juventus, Bayern Munich and Roma would be the toughest opponents, so Fàbregas and his team-mates will be hoping to line up against Panathinaikos, the winners of group B, in March. “I know we can get some very big teams,” Fàbregas said. Arsenal cannot be drawn to play against Manchester United or Liverpool, the English group winners, in the last 16.