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Commercial Partnership
Commercial Partnership.
About this update from H-power Plc
[{"type":"text","content":"\n \n ARSENAL TIE UP COMMERCIAL PARTNERSHIPS WITH KROENKE SPORTS ENTERPRISES \n\n Arsenal Broadband Agreement and Colorado Rapids deal completed \n\nFollowing a productive meeting on 4th April 2008 with Stan Kroenke, owner of\nKroenke Sports Enterprises (KSE) and Arsenal shareholder, the Club is pleased\nto announce it has intensified its commercial relationship with the leading\nlive sports and entertainment group based in Denver.\n\nArsenal has developed a close business relationship with KSE over the last\nyear, culminating in the signing of a strategic partnership agreement with the\nColorado Rapids, a franchise owned by KSE, with the primary aims of building\nthe Arsenal brand in the US; helping to improve the quality of football at MLS\nteam Colorado Rapids and supporting grassroots football in the US.\n\nThe relationship has been further strengthened by the completion of KSE UK's\nacquisition of the 50% shareholding in Arsenal Broadband Limited - previously\nowned by ITV plc - entitling KSE UK to an interest in Arsenal.com, which\ncontrols the Club's internet rights. With the completion of the Arsenal\nBroadband transaction, the total received by ITV from KSE for its interests in\nArsenal is £65m.\n\nAs part of this arrangement ITV will be paying the Club £1 million for certain\nrights. In addition, ITV will cease to be the commercial agent for Arsenal and\nwill no longer represent the licensing activities at Arsenal.\n\nArsenal managing director, Keith Edelman, said: \"We have held constructive and\nfruitful discussions with Stan Kroenke over the past year and are excited by\nthe prospect of further developing our mutual commercial projects with KSE. In\naddition, we'd like to take this opportunity of thanking ITV for their support\nand contribution over the last seven years.\"\n\nPaul Andrews, KSE Executive Vice-President and Chief Marketing Officer said:\n\n\"KSE is looking forward to a long and prosperous partnership with Arsenal\nFootball Club. These arrangements will allow KSE to further develop soccer in\nthe United States and capitalize on the experience and strength of Arsenal\nFootball Club\".\n\nEnds\n\n7th April 2008\n\nFor further information contact Arsenal Communications Department on:\n\nAmanda Docherty Head of Communications + 44 (0) 20 7704 4010\n\[email protected]\n ","length":2329,"tagNam...