Capítulo 373: Chapter 373: Arsenal Sponsorship Contracts
On April 30th, Charles Capet's Capet Fund bought the One Worldwide Plaza from American real estate developer Tishman Speyer for 1.3 billions dollars in cash.
This skyscraper, built in 1987, stood at 248 meters tall with 75 floors. It was soon to be renamed Capet Center Building.
The tower's first 23 floors were designated for offices, while the upper floors were luxurious apartments, with a total area of 200,000 square meters.
The building's distinctive shape resembled a constellation formation, with a central octagonal part, two sides divided into three sections each narrowing upwards. The top section looked like an octagonal terraced pyramid, with a dome-like structure at the pinnacle. For a while after its completion, it had a notorious reputation.
Charles kept the 66th floor for himself, a luxurious high-rise residence spanning over 800 square meters.
"Has Wayne Huizenga from the Miami Dolphins agreed yet?" Charles asked Dona Williams over the phone while sitting in his office on Greenwich Street in downtown Manhattan at Capet Pictures.
"No, he's still considering it."
"Ha, let's see how long he can hold out. Isn't $1 billion in cash enough?"
NFL team ownership represented social status and was a good way to expand one's network. There were many influential fans in politics and business. The desire for expansion grew stronger with capital as its foundation.
Arsenal made it to the Champions League semifinals this year but lost to Chelsea. The final would be Manchester United versus Chelsea.
However, the Premier League still had two rounds to go. Arsenal was currently leading the table, two points ahead of Manchester United and four points ahead of Chelsea.
In the final two rounds, Arsenal would play Everton at home and Sunderland away. Everton had nothing to fight for, while relegation-threatened Sunderland needed attention.
Anyway, he had to go to France, so he might as well go to England to watch Arsenal win the Premier League. Meanwhile, Arsenal was negotiating new sponsorship deals with Nike and Emirates Airline for shirt sponsorship and stadium naming rights.
Charles planned to take a firm stance. The contract with Nike only had two years left, and it could be bought out directly.
As for the contract with Emirates, though they had only been partners for two years, the conditions were too low, and Charles definitely wouldn't agree.
On May 3rd, at Arsenal's Emirates Stadium, Arsenal won 1-0 against Everton in the 37th round of the 07-08 Premier League season and remained at the top of the table.
Charles watched the entire game from his box, along with club executive David Dein and Emirates Airline Chairman Sheikh Ahmed.
Sheikh Ahmed was a member of the Dubai royal family, but Charles didn't care about their identities or complicated relationships. He only cared about his sponsorship.
Sheikh Ahmed, in his thirties, sported a large beard and wore a white robe. He didn't look very shrewd at first glance.
"Mr. Ahmed, what do you think? Do we continue our partnership or negotiate an early termination?" Charles asked as they sat on the sofa at the Riverbank Plaza Hotel in Canary Wharf that evening.
"Oh, Mr. Capet, Arsenal is a club with deep roots and significant influence. Emirates is very willing to renegotiate a new contract!" Sheikh Ahmed didn't care about the money. Facing a Hollywood mogul who wasn't short of cash either, he was more than willing to maintain good relations.
Charles nodded. "You know, Arsenal's previous 15-year stadium naming rights contract and 8-year shirt sponsorship contract with you, plus the travel contract with Emirates, was only 100 million pounds. I can't even say it out loud! Chelsea signed a 5-year shirt sponsorship with Samsung last year for 10 million pounds each year."
Sheikh Ahmed nodded. "That indeed does not reflect Arsenal's status. And Arsenal is about to win the Premier League this year!"
"Here's the deal, the stadium naming rights will still follow the original 15 years, expiring in 2021. The 100 million pounds will be all for the stadium naming fee. We'll sign a new agreement for the shirt sponsorship and the travel contract with Emirates. Six years, worth 100 million pounds, considering we've already had two seasons together. That averages out to just 12.5 million pounds per year!"
Sheikh Ahmed hesitated. "Isn't that a bit too expensive?"
With this calculation, the contract duration didn't change at all, and Emirates just increased their sponsorship fee by 100 million pounds.
"Mr. Ahmed, you must know that my team isn't just any ragtag bunch. This is a top Premier League club. Without substantial sponsorship, how can I buy new players?" Charles said, patting Ahmed's shoulder.
"Last winter, I spent 60 million pounds on player acquisitions!
Don't you want to see Arsenal players lifting the Champions League trophy while wearing jerseys with the Emirates logo?
Don't you want the entire world to know that Emirates is the number one airline in the Middle East and is striving to become the world's top airline?
Don't you want to enhance the influence of the Dubai emirate and even the Arab world?"
...
Securing a deal with Emirates was straightforward. After all, both parties didn't care about money. One sought fame, and the other sought money, making it simpler.
Give it some time and let Sheikh Ahmed discuss it with his side first.
As long as Arsenal clinched the Premier League title with a victory over Sunderland on May 11th, the new contract with Emirates would undoubtedly be announced!
"David, how's Nike doing?" Charles asked David Dein at the Colney Training Ground. Only two years remained in the sponsorship contract with Nike, and the buy-out wouldn't be expensive.
"Nike is very eager to continue the partnership, especially since the team they are sponsoring is likely to win both the Champions League and the Premier League this year," David Dein explained. Arsenal's path to the Premier League title seemed smooth, and Manchester United also had a strong chance of defeating Chelsea to win the Champions League.
Nike was the sponsor for both Arsenal and Manchester United.
Charles shook his head. "Didn't Nike just acquire Umbro this year? They have money. Basically, Nike needs to offer a suitable sponsorship deal, or we will negotiate with Adidas, Warrior, or Puma. An annual sponsorship of less than 8 million pounds is an insult to me!"
"Adidas is very interested in us right now. Arsenal's games are exciting to watch. Didn't Chelsea switch from Umbro to Adidas in 2006 after terminating their contract early?
Remember, an annual sponsorship deal worth 15 million pounds is my bottom line, and the sponsorship duration must not exceed 7 years!"
David Dein took a deep breath. An annual sponsorship of 15 million pounds would be second only to Manchester United's 23 million pounds in the Premier League.
*****
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