ARSENAL TIE UP COMMERCIAL PARTNERSHIPS WITH KROENKE SPORTS ENTERPRISES
Arsenal Broadband Agreement and Colorado Rapids deal completed
Following a productive meeting on 4th April 2008 with Stan Kroenke, owner of
Kroenke Sports Enterprises (KSE) and Arsenal shareholder, the Club is pleased
to announce it has intensified its commercial relationship with the leading
live sports and entertainment group based in Denver.
Arsenal has developed a close business relationship with KSE over the last
year, culminating in the signing of a strategic partnership agreement with the
Colorado Rapids, a franchise owned by KSE, with the primary aims of building
the Arsenal brand in the US; helping to improve the quality of football at MLS
team Colorado Rapids and supporting grassroots football in the US.
The relationship has been further strengthened by the completion of KSE UK's
acquisition of the 50% shareholding in Arsenal Broadband Limited - previously
owned by ITV plc - entitling KSE UK to an interest in Arsenal.com, which
controls the Club's internet rights. With the completion of the Arsenal
Broadband transaction, the total received by ITV from KSE for its interests in
Arsenal is £65m.
As part of this arrangement ITV will be paying the Club £1 million for certain
rights. In addition, ITV will cease to be the commercial agent for Arsenal and
will no longer represent the licensing activities at Arsenal.
Arsenal managing director, Keith Edelman, said: "We have held constructive and
fruitful discussions with Stan Kroenke over the past year and are excited by
the prospect of further developing our mutual commercial projects with KSE. In
addition, we'd like to take this opportunity of thanking ITV for their support
and contribution over the last seven years."
Paul Andrews, KSE Executive Vice-President and Chief Marketing Officer said:
"KSE is looking forward to a long and prosperous partnership with Arsenal
Football Club. These arrangements will allow KSE to further develop soccer in
the United States and capitalize on the experience and strength of Arsenal
Football Club".
Ends
7th April 2008
For further information contact Arsenal Communications Department on:
Amanda Docherty Head of Communications + 44 (0) 20 7704 4010
communications@arsenal.co.uk