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http://edition.cnn.com/2006/SPORT/footb ... d.arsenal/
LONDON, England -- Arsenal have been cleared by the Football Association of effectively taking over their Belgian feeder club Beveren, in breach of FIFA regulations.
FIFA had asked the FA to investigate allegations in a BBC Newsnight program which claimed Arsenal had established control of the Belgian club.
In a statement, the FA said they had "not identified any evidence to suggest Arsenal have breached any rules of the FA or the FA Premier League in relation to their dealings with Beveren and specifically any breaches of the FA and FAPL rules concerning dual interests or associations between clubs."
The FA said they had passed on all the evidence gathered in the case to FIFA.
Newsnight reported on June 1 that Arsenal had covertly handed over £1m ($1.83 million) to fund a 2001 takeover of the Belgian club by a consortium called Goal.
Among those involved with Goal was Jean-Marc Guillou, a former French international and a close friend of Arsenal manager Arsene Wenger, who helped set up a football academy in the Ivory Coast, which has produced a string of top players -- including Arsenal defenders Kolo Toure and Emmanuel Eboue.
In 2001, Guillou put together a financial restructuring package for heavily-indebted Beveren, who at the time were on the verge of financial collapse.
Arsenal said they provided funds to help Beveren stabilize their finances but denied the deal gave them any say in how the club was run.
FA clear Arsenal in Beveren inquiry
23/06/2006
The Football Association have said they have identified no evidence to suggest Arsenal breached Premier League rules in relation to their dealings with Beveren.
Fifa had requested the FA investigate the relationship between the clubs following allegations on BBC's Newsnight programme of irregular payments being made by Arsenal.
"We can confirm we have not identified any evidence to suggest Arsenal have breached any rules," the FA said in a statement.
The Newsnight programme related how police found that an anonymous £1 million investment into Beveren was made by Arsenal.
The north London club said they had paid a loan to stabilise the club in 2001, but the partnership was strictly related to football.
The inquiry was unlikely to find against Arsenal as it dealt specifically with the FA's own rules and those of the Premier League "concerning dual interests or associations between clubs".
As Beveren are an overseas side there would be no conflict of interest, although the material collected by the inquiry has now been sent to Fifa for their scrutiny.
Transformers: Arsenal fans in disgise