The Etihad Stadium, Manchester
Goodbye Eastlands, hello Etihad. Another Record broken and money changing hands back and forth between Abu Dhabi and Manchester and back again as Etihad signed the 10 year deal for naming rights to the stadium:
The 10-year agreement, which means City's ground is renamed the Etihad Stadium, will be worth more than twice the previous record, JP Morgan Chase's $300m (£187m) for the new Madison Square Garden, while simultaneously demonstrating the growing disparity between the top clubs in English football.
And with silverware now in the bag, with the FA Cup, and Champions League football ready for the taking, the future can now begin for Manchester City. But controversy will remain as despite the billions already thrown into the the club to buy players and funf their wages, Manchester City are still in the red. And so this deal will get the full sniffing over by UEFA:
Etihad are owned by the Abu Dhabi government and the airline's association with the City owner, Sheikh Mansour, a member of the Abu Dhabi royal family, will almost certainly prompt Uefa's Club Financial Control Panel, under the chairmanship of the former Belgian prime minister Jean-Luc Dehaene, to investigate. A Uefa spokesman said: "We are aware of the situation and our experts will make assessments of fair value of any sponsorship deals using benchmarks." Under the terms of financial fair play, clubs have to show they can break even in the medium term if they are to take part in European competitions and, for City, that represents a significant issue given that their last financial figures reported a £121m loss and the next accounts, to be published in September, are expected to be worse. The club have, however, made extensive inquiries of their own, consulting with Uefa in the process, to ensure the Etihad deal fits in with the rules and cannot be construed, in essence, as a different twist to 'mates' rates'.'
The deal couldn't have come at a better time. With Carlos Tevez complaining about the Manchester weather and how it is time to go home, they may need more cash to buy another world class striker to replace him.
Guardian
The 10-year agreement, which means City's ground is renamed the Etihad Stadium, will be worth more than twice the previous record, JP Morgan Chase's $300m (£187m) for the new Madison Square Garden, while simultaneously demonstrating the growing disparity between the top clubs in English football.
And with silverware now in the bag, with the FA Cup, and Champions League football ready for the taking, the future can now begin for Manchester City. But controversy will remain as despite the billions already thrown into the the club to buy players and funf their wages, Manchester City are still in the red. And so this deal will get the full sniffing over by UEFA:
Etihad are owned by the Abu Dhabi government and the airline's association with the City owner, Sheikh Mansour, a member of the Abu Dhabi royal family, will almost certainly prompt Uefa's Club Financial Control Panel, under the chairmanship of the former Belgian prime minister Jean-Luc Dehaene, to investigate. A Uefa spokesman said: "We are aware of the situation and our experts will make assessments of fair value of any sponsorship deals using benchmarks." Under the terms of financial fair play, clubs have to show they can break even in the medium term if they are to take part in European competitions and, for City, that represents a significant issue given that their last financial figures reported a £121m loss and the next accounts, to be published in September, are expected to be worse. The club have, however, made extensive inquiries of their own, consulting with Uefa in the process, to ensure the Etihad deal fits in with the rules and cannot be construed, in essence, as a different twist to 'mates' rates'.'
The deal couldn't have come at a better time. With Carlos Tevez complaining about the Manchester weather and how it is time to go home, they may need more cash to buy another world class striker to replace him.
Guardian
Labels: Etihad Airways, manchester city
posted by grapeshisha at
4:04 AM
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