Arsenal's board have already opposed a widely-mooted takeover by U.S. sports tycoon Stan Kroenke, whose 12.2 percent shareholding in the club led to the abrupt departure of vice-chairman David Dein in April.

Though the 76-year-old billionaire discussed the possibility of an Arsenal bid in vague terms on July 21 at the European Grand Prix in Germany [Images], he was more forthright in an interview with The Times on Saturday.

"The directors at Arsenal don't want to sell and have signed a lockout agreement for a year, so we will have to wait and see what happens then," he was quoted as saying.

"A lot can change in that time. I am still very interested. If I could buy Arsenal I would, but I would want control."

Ecclestone, whose daughter is dating Dein's son, underlined the link between his interest and the former Arsenal vice-chairman, saying: "It was David who mentioned it."

Dein, who was seen as supporting Kroenke's involvement, has been credited with much of Arsenal's success over the past decade and remains close to club manager Arsene Wenger.

Dein still has a 14.5 percent stake in the club, whose board said in April they would not sell their shares for at least one year.