Wednesday 14 October 2015 1:27 pm

Arsenal AGM: Three key questions as Arsene Wenger, Ivan Gazidis, Stan Kroenke and Sir Chips Keswick get grilled by shareholders

Arsenal's directors will sport their best smiles and lay on the charm as shareholders gather at Emirates Stadium for the club's AGM today.

Chief executive Ivan Gazidis, manager Arsene Wenger and majority shareholder Stan Kroenke are expected to be in attendance to proudly present the club's record profits, detail plans for the future and field some potentially uncomfortable questions from disgruntled fan-shareholders.

Here's three things to look out for at this year's meeting:

1. What was the £3m payment to Kroenke Sports and Entertainment for?

For the second year in succession, Arsenal's annual accounts reveal the club had made a £3m payment to Kroenke Sports and Entertainment, the company owned by majority shareholder Kroenke, for unspecified services.

Last year Sir Chips Keswick shed little light on what that entailed, simply telling shareholders KSE provided Arsenal with a "wide range of services" and that he was "entirely satisfied that this fee was appropriate".

Some shareholders will be hoping for a more detailed explanation this year – including Alisher Usmanov who owns 30 per cent of the club through Red and White Securities Limited. The Russian multi-billionaire is believed to have specifically requested the club provide further transparency on the deal.

2. Will the club review its transfer activity?

Arsenal were the only major European club not to buy an outfield player in the last summer transfer window, frustrating fans by signing only 33-year-old goalkeeper Petr Cech from Chelsea.

Members of the Arsenal Supporters' Trust, who urged the club to "open a full review into its arrangements for scouting and purchasing players" last month, have submitted a request to the board to commission an independent review of its transfer strategy.

For one of the most stable and profitable clubs in the world, such a measure seems unlikely. In fact, it could be illustrative of the board's opinion of such questions if it is fielded during the meeting or excluded.

3. What kind of reception will Arsene Wenger receive?

Arsenal's fortunes on the pitch at this time of the year are often well demonstrated by the reception afforded to Wenger from shareholders at the AGM.

Always on hand to deliver a typically charming presentation, Wenger has nevertheless faced criticism in the past for perceived failings.

A prelude of two high-profile acquisitions in consecutive summers – Alexis Sanchez and Mesut Ozil – as well as a first trophy in nine years contributed to a warm atmosphere last year but the question for 2015 will be whether the mood in the room will be dictated by the team's recent destruction of Manchester United or lingering frustration exacerbated by the collapse to Olympiakos four days earlier.