Majority shareholder Stan Kroenke has been accused of "having no passion" for Arsenal by honorary vice president, and former director, Lady Bracewell-Smith.
Bracewell-Smith, who sold Kroenke her shares last year, tweeted: "If making money was the motivating factor, surely there are better ways.
She continued: "Football is a business of passion. SK has no passion for AFC."
Arsenal, beaten by Bradford in the League Cup, could not be contacted.
When asked her view of the way the club is being run, Bracewell-Smith added: "Disappointed would be an understatement!
"[He] shows he cares very little. Why he wanted to be part of AFC I do not know."
In October Kroenke insisted Arsenal are still targeting trophies despite the Gunners selling captain Robin van Persie to rivals Manchester United in August.
Van Persie's departure followed the sales of Cesc Fabregas and Samir Nasri the previous summer.
There is also uncertainty over the future of England international Theo Walcott, whose contract expires next summer.
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Source: BBC
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