Filed under: Manchester City, Premier League, Football
It seems that the sky is the limit as far as Manchester City are concerned as they have only reinforced their status as English football's wealthiest club by signing a deal that is reportedly worth £150 million to rename Eastlands as the Etihad Stadium.Their progression is showing no signs of slowing up with the club, billed as the richest in world football, finalising a 10-year partnership with the Abu Dhabi-based airline to sell the naming rights of the council-owned City of Manchester Stadium.
The major investment also sees an extension to the current shirt sponsorship while the surrounding area around the stadium will be also be titled the Etihad Campus.
Manchester City, who moved from their old Maine Road ground in 2003, are expected to benefit from the cash injection as their revolution gathers pace.
Owner Sheikh Mansour has ploughed over £1billion into the club since taking over on September 1 2008 and having reaped the rewards on the pitch he is now expanding the club's brand off it.
The Blues ended their 35-year drought when they won the FA Cup and their third place finish in last season's Premier League earned them a spot in the Champions League.
More significantly, the lucrative contract agreed from the new sponsorship will boost their attempts to meet UEFA's Financial Fair Play rules.
The new regulations stipulate clubs must not post aggregate losses of more than £40.5 million over the following three-year period.
Manchester City chief executive Garry Cook said: "The partnership is about continuing to increase our investment in youth development, the scale and scope of our community programmes and continue to build our profile in major markets.
"The backdrop is UEFA's Financial Fair Play and this helps to make significant progress in that area.
"This is not just a wide-ranging agreement. It is a long-term commitment.
"It's the most unique. There have been comparisons made with other football clubs but the uniqueness created the opportunity which means the size is greater than probably before.
"It could be one of the most important arrangements in the history of world football."
Manchester City become the sixth Premier League side - after Arsenal, Bolton, Wigan, Stoke and new-boys Swansea - to sell naming rights to their stadium.
And it has been speculated that the Etihad deal is the biggest ever to be struck in the history of English football, beating Arsenal's agreement with Emirates Airways in 2006.
The announcement will be seen as a step towards the kind of spending spree that has become the norm in the rise in the blue half of Manchester in the last three years.
And Roberto Mancini still has much to do in the transfer market this summer.
The Manchester City manager has already stumped up a combined £13 million to sign defenders Stefan Savic and Gael Clichy - with £20million-rated Arsenal midfielder Samir Nasri also on the radar.
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