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SBD/November 26, 2012/Marketing and Sponsorship
Emirates, Arsenal Reach $240M Deal To Extend Shirt, Stadium Naming Rights
Published November 26, 2012
CASH TO SPEND: In Belfast, James Olley reported Arsenal “requested that the deal’s payment structure is frontloaded to ensure they have funds to invest in the team as soon as possible.” Arsenal’s cash reserves stand at $112.1M with $48M “retained as a contingency fund should they fail to qualify for the Champions League.” Emirates is “expected to pay in excess of” $48M early next year “in a move that will come too early for the January window but leave the club in a powerful position at the end of the season” (BELFAST TELEGRAPH, 11/24). Gazidis said that the cash injection "will leave the club less reliant on revenue from the stadium, which has resulted in high ticket prices." The GUARDIAN's James Riach reported Gazidis “received a hostile reception at Arsenal's annual general meeting in October, but he is confident" that this deal will allow Arsenal manager Arsene Wenger "to appease those fans craving investment in the first team” (GUARDIAN, 11/24).
HOLDING OFF: The AP's Rob Harris reported Emirates "wants evidence FIFA is eradicating corruption and the scandal-hit organization's public image is improving before renewing its sponsorship." The Dubai-based carrier's $195M, eight-year sponsorship of world football's governing body expires in '14. Emirates Senior VP/Corporate Communications Boutros Boutros said Friday that the airline "has yet to see enough progress since FIFA President Sepp Blatter instigated a reform drive to prevent a repeat of scandals that have damaged the credibility of the organization in recent years" (AP, 11/23).