Bayern Munich boss Carlo Ancelotti has once more claimed that Arsenal and Manchester United’s American owners are more interested in success on the balance sheet than the football pitch.

Both the Glazer family, who own Manchester United, and Stan Kroenke and his Kroenke Sports Enterprises company, the majority shareholders at Arsenal, have been the subject of fan unrest over recent years, with the latter the subject of a “time for change” protest in May along with manager Arsene Wenger.

However it has at times appeared that Kroenke’s distance from the North London side – he is a rare presence at the Emirates for Arsenal games – has given Wenger greater control at a club where he has significantly greater control over transfer policy than managers do at many top European clubs.

For Ancelotti, who worked for demanding owners at AC Milan, Chelsea and Real Madrid, it is a notable difference to the high-pressure environments he has become used to.

Ten events that defined Arsene Wenger's Arsenal reign 11 show all Ten events that defined Arsene Wenger's Arsenal reign 1/11 As Arsene Wenger's reign at Arsenal comes to an end Standard Sport examines some of the defining points of time in his reign. Stuart MacFarlane/Arsenal FC via Getty Images 2/11 Listening to his players (1996) The first defining moment of Arsene Wenger’s tenure came before he had even taken charge. The Frenchman was watching from the stands on September 1996 with Pat Rice in charge for the Uefa Cup trip to Borussia Monchengladbach.



Though he hadn’t yet started work Wenger had his part to play in the 3-2 defeat, suggesting “one or two changes” that left Tony Adams far from impressed – the club captain accused his new manager of putting Arsenal’s season in jeopardy before he had even started work. Rather than look to stamp his authority on his new players Wenger chose to embrace Adams’ criticism, setting the tone for a regime that would always value the input of those on the pitch. Shaun Botterill/ALLSPORT 3/11 Nicolas Anelka proves to be the perfect Wenger buy (1997) The second unknown Frenchman to define Arsenal’s early years Nicolas Anelka would play a crucial role in the 1998 Double and establish Wenger as the perfect manager for any bright young forward to work with.



Bought from Paris St Germain for £500,000 in February 1997 his £22.3million sale to Real Madrid a little over two years later would fund the new training ground at London Colney with enough left over to bring in another young Frenchman… Thierry Henry. Not a bad bit of business. Ben Radford/Allsport/Getty Images 4/11 Bould’s lob, Adams’ volley (1998)

But it didn’t take long for him to get his ideas across. The revolution’s highlight came as Arsenal romped to the title with a 4-0 win over Everton. As brilliant as the free-flowing football has been at Arsenal over recent years Wenger has always had exactly the right players to do the job. That was not quite the case when he arrived, with defensive solidity the order of the day.But it didn’t take long for him to get his ideas across. The revolution’s highlight came as Arsenal romped to the title with a 4-0 win over Everton. Steve Bould steps forward to steal possession and lobs a pass forward for Tony Adams, bursting in past the backline to volley beyond Thomas Myhre. All that from two of the old guard. 5/11 “It wouldn’t surprise me if we were to go unbeaten for the whole of the season” (2002) He may have been a season out with his prediction but we can forgive him a degree of inaccuracy such was the remarkable achievement of his 2003-04 Invincibles.



Several players have since said Wenger’s confidence inhibited them in a run-in where they handed the title to Manchester United but Arsenal were to prove their manager’s faith right a year later... Craig Prentis/Getty Images 6/11 The Battle of Old Trafford (2003) And the defining moment of that season was to come as early as September, when Ruud van Nistelrooy’s missed penalty allowed Arsenal to escape their clash with a 0-0 draw. Ugly confrontations from both sides at the final whistle saw suspensions handed out to Martin Keown, Ray Parlour and Lauren, as well as Patrick Viera, who had been sent off in the match.



“When I saw my team-mates being full of passion and fighting I knew this was a really great team,” said Jens Lehmann, who had arrived in the summer. This was a team of fighters, galvanized in their pursuit of the title. Getty 7/11 Patrick Vieira makes way for Cesc Fabregas (2005) A new era began when club captain Patrick Vieira left for Juventus, with Wenger choosing to place his faith in a 18-year-old to replace one of Arsenal’s greatest ever players. The same would be true as Dennis Bergkamp, Robert Pires, Freddie Ljungberg and Thierry Henry left over the following years, with a new side constructed around the likes of Theo Walcott, Robin van Persie and other bright youngsters. Ben Radford/Getty Images 8/11 David Dein’s departure (2007) The exit of vice-chairman David Dein briefly brought instability to the club, with Stan Kroenke beginning to acquire shares and the problems at board room convincing Henry that his time was up.



Wenger reportedly sought assurances on his future but five months after Dein’s exit the manager signed up for the long haul once more, agreeing a contract extension to keep him at the Emirates until 2011. 9/11 Manchester United 8 Arsenal 2 (2011) It seemed the most humiliating result of Wenger’s tenure and remains a painful memory for Arsenal supporters. But credit to the Arsenal manager, who immediately set about rectifying the most significant issues in a team shorn of Cesc Fabregas and Samir Nasri.



The arrival of Per Mertesacker and Mikel Arteta on deadline day brought the leadership the club lacked; the pair would be crucial contributors as Arsenal slowly rediscovered their winning edge. ANDREW YATES/AFP/Getty Images 10/11 Mesut Ozil signs for £42.5million (2013) Expectations around Arsenal have reached new levels since the arrival of Ozil, which coincided with the club finally being freed from the debt that came with constructing the Emirates. However his arrival, followed by those of Alexis Sanchez, Petr Cech, World Cup winner Shkodran Mustafi and Alexandre Lacazette have not been enough to turn around a decline that saw Wenger’s side finish outside the top four for the first time in his reign in 2017. Stuart MacFarlane/Arsenal FC via Getty Images 11/11 Bayern Munich prove Arsenal are slipping further behind (2017) Just before Ozil’s arrival chief executive Ivan Gazidis had said Arsenal’s new-found financial muscle meant they would soon compete with Bayern Munich, the then-Champions League holders. Four years later the gap was a chasm, a 10-2 aggregate defeat a humiliating low on the European stage for Wenger.



He would hang on for just over another year but spent it outside the Champions League, his side further than ever in Wenger’s reign from the top sides in Europe and the Premier League as they finished sixth. AFP/Getty Images 1/11 As Arsene Wenger's reign at Arsenal comes to an end Standard Sport examines some of the defining points of time in his reign. Stuart MacFarlane/Arsenal FC via Getty Images 2/11 Listening to his players (1996) The first defining moment of Arsene Wenger’s tenure came before he had even taken charge. The Frenchman was watching from the stands on September 1996 with Pat Rice in charge for the Uefa Cup trip to Borussia Monchengladbach.



Though he hadn’t yet started work Wenger had his part to play in the 3-2 defeat, suggesting “one or two changes” that left Tony Adams far from impressed – the club captain accused his new manager of putting Arsenal’s season in jeopardy before he had even started work. Rather than look to stamp his authority on his new players Wenger chose to embrace Adams’ criticism, setting the tone for a regime that would always value the input of those on the pitch. Shaun Botterill/ALLSPORT 3/11 Nicolas Anelka proves to be the perfect Wenger buy (1997) The second unknown Frenchman to define Arsenal’s early years Nicolas Anelka would play a crucial role in the 1998 Double and establish Wenger as the perfect manager for any bright young forward to work with.



Bought from Paris St Germain for £500,000 in February 1997 his £22.3million sale to Real Madrid a little over two years later would fund the new training ground at London Colney with enough left over to bring in another young Frenchman… Thierry Henry. Not a bad bit of business. Ben Radford/Allsport/Getty Images 4/11 Bould’s lob, Adams’ volley (1998)

But it didn’t take long for him to get his ideas across. The revolution’s highlight came as Arsenal romped to the title with a 4-0 win over Everton. As brilliant as the free-flowing football has been at Arsenal over recent years Wenger has always had exactly the right players to do the job. That was not quite the case when he arrived, with defensive solidity the order of the day.But it didn’t take long for him to get his ideas across. The revolution’s highlight came as Arsenal romped to the title with a 4-0 win over Everton. Steve Bould steps forward to steal possession and lobs a pass forward for Tony Adams, bursting in past the backline to volley beyond Thomas Myhre. All that from two of the old guard. 5/11 “It wouldn’t surprise me if we were to go unbeaten for the whole of the season” (2002) He may have been a season out with his prediction but we can forgive him a degree of inaccuracy such was the remarkable achievement of his 2003-04 Invincibles.



Several players have since said Wenger’s confidence inhibited them in a run-in where they handed the title to Manchester United but Arsenal were to prove their manager’s faith right a year later... Craig Prentis/Getty Images 6/11 The Battle of Old Trafford (2003) And the defining moment of that season was to come as early as September, when Ruud van Nistelrooy’s missed penalty allowed Arsenal to escape their clash with a 0-0 draw. Ugly confrontations from both sides at the final whistle saw suspensions handed out to Martin Keown, Ray Parlour and Lauren, as well as Patrick Viera, who had been sent off in the match.



“When I saw my team-mates being full of passion and fighting I knew this was a really great team,” said Jens Lehmann, who had arrived in the summer. This was a team of fighters, galvanized in their pursuit of the title. Getty 7/11 Patrick Vieira makes way for Cesc Fabregas (2005) A new era began when club captain Patrick Vieira left for Juventus, with Wenger choosing to place his faith in a 18-year-old to replace one of Arsenal’s greatest ever players. The same would be true as Dennis Bergkamp, Robert Pires, Freddie Ljungberg and Thierry Henry left over the following years, with a new side constructed around the likes of Theo Walcott, Robin van Persie and other bright youngsters. Ben Radford/Getty Images 8/11 David Dein’s departure (2007) The exit of vice-chairman David Dein briefly brought instability to the club, with Stan Kroenke beginning to acquire shares and the problems at board room convincing Henry that his time was up.



Wenger reportedly sought assurances on his future but five months after Dein’s exit the manager signed up for the long haul once more, agreeing a contract extension to keep him at the Emirates until 2011. 9/11 Manchester United 8 Arsenal 2 (2011) It seemed the most humiliating result of Wenger’s tenure and remains a painful memory for Arsenal supporters. But credit to the Arsenal manager, who immediately set about rectifying the most significant issues in a team shorn of Cesc Fabregas and Samir Nasri.



The arrival of Per Mertesacker and Mikel Arteta on deadline day brought the leadership the club lacked; the pair would be crucial contributors as Arsenal slowly rediscovered their winning edge. ANDREW YATES/AFP/Getty Images 10/11 Mesut Ozil signs for £42.5million (2013) Expectations around Arsenal have reached new levels since the arrival of Ozil, which coincided with the club finally being freed from the debt that came with constructing the Emirates. However his arrival, followed by those of Alexis Sanchez, Petr Cech, World Cup winner Shkodran Mustafi and Alexandre Lacazette have not been enough to turn around a decline that saw Wenger’s side finish outside the top four for the first time in his reign in 2017. Stuart MacFarlane/Arsenal FC via Getty Images 11/11 Bayern Munich prove Arsenal are slipping further behind (2017) Just before Ozil’s arrival chief executive Ivan Gazidis had said Arsenal’s new-found financial muscle meant they would soon compete with Bayern Munich, the then-Champions League holders. Four years later the gap was a chasm, a 10-2 aggregate defeat a humiliating low on the European stage for Wenger.



He would hang on for just over another year but spent it outside the Champions League, his side further than ever in Wenger’s reign from the top sides in Europe and the Premier League as they finished sixth. AFP/Getty Images

“I was fortunate to be able to coach Real Madrid, although then the club decided to change managers,” Ancelotti told AS. “That is part of the job, we are exposed to that. In the big clubs it is difficult to stay a long time because the expectations of results are so high.

“It's true that there are other clubs like Manchester United, where [Alex] Ferguson was there many years, and now Wenger at Arsenal. These cases are different, as their owners are from the U.S. and they are more interested in the financial aspect than in who is coach.”

Ancelotti had made similar criticism of United and Arsenal’s ownership in May, when he said that they were “not so passionate” when compared to the likes of Florentino Perez of Real Madrid and soon-to-be former AC Milan head Silvio Berlusconi.