Ifølge Guardian står det mellom Donovan og Celtics chief executive, Peter Lawwell.
' Celtic's chief executive, Peter Lawwell, has emerged as the football man in the running for the £1m-a-year vacancy at Arsenal. The 49-year-old will find out in the next fortnight if he has been selected from the two-man shortlist ahead of Paul Donovan, Vodafone's chief executive for central Europe, the Middle East and Asia.
Lawwell is considered a tough transfer negotiator at Celtic and has excellent contacts in European football - not least at Uefa, where his fellow Scot, David Taylor, is general secretary. Having substantially lifted Celtic's turnover during his spell at Parkhead, his CV appears well suited to Arsenal. His background is as an accountant and finance director, having had a spell in the property-development business on the Clydeport authority, fitting in with many of the core skills Arsenal require of their new broom.
The club is set to announce a strong set of half-year accounts this week, with further discussion of whom to appoint at a board meeting on Thursday.
But balanced against Lawwell's football experience is the FTSE100 profile of the Arsenal season-ticket holder Donovan, whose company is a top-line sponsor of Uefa's Champions League. His experience of and contacts in central European, Middle Eastern and Asian markets might also suit him to dialogue with potential purchasers.
Arsenal's board, who engaged the headhunters Spencer Stuart to deliver a £1m-a-year chief executive, insists it has no desire to discuss a takeover. 'http://www.guardian.co.uk/football/2008/sep/16/arsenal?gusrc=rss&feed=football
These people have to understand that you can have 20 trillionaires in the Premier League and one will finish bottom - Arsène Wenger