Herd wrote:The Original Nike deal was done by Edelman and the twat gave Nike an option from 2011 to 2014 which they have exercised .
The Emirates deal was massively undersold and again that was Edelman brought in by good old Clock end Danny Fizman.
Emirates had been kicked out by the new Jewish owner of Chelsea FC in unceremonious fashion and were gagging to get their own back.
Chelsea were getting 7 million a year from Emirates and that was back in the early years of the millennium
In my opinion we could have had them pay for the entire costs of the new stadium but Arsenal underestimated the cost of the plan by some 150 million and they were desperate to get the finance upfront in place !
Since the deal was done the clubs relationship with Emirates took a mahoosive downturn after the club started advertising for the Israeli tourist board and Arsenal have been trying to patch this fcuk up ever since ..... and Emirates are only now talking again to the club .
Edelman was also directly responsible for the Flamini contract fcuk up not to mention Edu !
I'm stunned by the amount of clowns working in exec roles at the club as they cant even get the ticketing on match days right , a fundamental in the business.
Edelman was sacked from his role at the club though, so at least he was held responsible.
The one thing I would say in defence of these deals is that the cash was all provided up front as a way of financing the new stadium. The various banks involved would not have lent the club all the money necessary to build the stadium without this contribution. Getting that cash up front, was always going to lead to some form of uncompetitive sponsorship deal in return,albeit may not as uncompetitive as they have turned out to be.
Where our competitors who have not yet built stadiums (Tottenham, Chelsea and Liverpool) have a disadvantage is that these new commercial deals are already signed so it will be difficult for them to renegotiate to provide up front financing for their stadiums when the time comes. Going cap in hand to the banks, in a subdued economic environment, without much of a stake to put down yourself (admittedly this may not apply to Chelsea) is going to lead to significantly higher interest rates being charged. In the longer term this will put them at a financial disadvantage for longer than we will have to endure.