Speaking at the Soccerex football business forum in Dubai, he said a full listing was "one of the options" for funding after the club moves to its new stadium, reports the BBC.

The club - which is currently listed on the smaller Ofex share exchange - is due to move into its new 60,000-seater Emirates Stadium at Ashburton Grove for the start of the 2006/07 season.

Mr Dein also warned the current level of TV coverage of the Premiership may be reaching saturation level, with signs that match attendances have been dropping off in the first few months of this season.

When Arsenal moves to its new stadium it will see its proportion of turnover from media earnings drop from 52 per cent this season to 34 per cent in two years' time.

The club is hoping to increase matchday earnings from 29 per cent to 40 per cent of turnover, and has not ruled out other money-earning means, including a full share listing.

"When the new stadium opens we will go through a thorough financial review," Mr Dein said.

The club is funding its move to Ashburton Grove through a number of sources, including debt from banks, from money it already has and will receive in coming years from sponsors, and from the sale of surplus property, including its Highbury Stadium.

It is also looking to create new revenue streams from overseas markets, including Asia.