Stan Kroenke latest move has Arsenal fans scratching their heads.
Arsenal owner Stan Kroenke has surprised many within and outside the club as he has secured new sponsors, but left the Gunners out from the list of beneficiaries. This is as per reports from The Boot Room Football, who have added that the club’s chief commercial officer Juliet Slot has been trying hard to rectify the depth and quality of their sponsors.
Kroenke is the owner of several sporting franchises including the Denver Nuggets, Los Angeles Rams and Arsenal, among other notable franchises. He has a total of nine sports teams registered to his name. Recently, Stan has handed over the baton to his son and business partner Josh Kroenke, who has been the ‘acting face of Arsenal’ for the last few years.
The fact that the Gunners have been able to flex their financial muscle in the transfer market of late is thanks to Stan Kroenke. While history suggests he has been good with the account books, the club’s amortisation of a £139 million bill last year raised some eyebrows.
What Kroenke’s sponsorship decision means for Arsenal
The Gunners amassed a commercial income of £173 million in the 2022/23 season. However, despite a handsome overall revenue, their collections from sponsorship, merchandise and events is comfortably the lowest in the ‘Big Six’.
To offset this, they signed a £3m-a-year deal with Betway over four years, which will at least guarantee an income of £12m over four seasons.
As things stand, Stan Kroenke has ensured his sports teams have decent financial backing. He has created synergies and shared resources between his teams to ensure they all remain competitive and strong. However, seeing the dip in income at Arsenal, the businessman was forced into making this move.
Another telltale sign of this decision was Arsenal’s blatant exclusion from the package agreement with Bet365, which has seen the Colorado Rapids and the Denver Nuggets sign deals with them.
