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Arsenal fall victim to embarrassing sponsorship scam

Sripad
SENIOR ANALYST
News
3.33K   //    17 Jul 2018, 13:12 IST

Arsenal v Paris Saint Germain - Champions League
Arsenal

Signing a sponsored deal with companies is a common thing in football right now. There are so many agencies and agents doing all the work between the clubs and the companies for a commision and it's hard to keep a track of how many are involved in this business.

However, there are a lot of people taking advantage of is. Arsenal have been the latest club to be tricked by a fraud agency.

In April this year, Arsenal announced a global partnership with BYD Auto, an electric vehicle manufacturer.

Reports suggest that the deal was done during Arsenal’s pre-season tour of Shanghai and Beijing last year. The agreement saw the Chinese firm become the Gunners’ official car and bus partner.

Arsenal did not reveal the length and the financial details of the deal but claimed that the deal made them the first Premier League club to have a global electric vehicle partnership.

All that came crashing yesterday when the Chinese company revealed that the sponsorship deal was signed with the club by an unauthorised person. 

BYD claims that the person who signed the contract was not sanctioned to sign deals with partners nor was he ever an employee of the company. Police are now investigating the involved person in Shanghai.

Arsenal asserted on their website (Chinese's version) that they are looking into the issue. They have also claimed that senior-level BYD representatives were involved in the deal.

Arsenal's statement read: "BYD has informed Arsenal that they believe they have been the victim of a fraud in relation to various advertising agreements. This includes our partnership with BYD which was formally launched by both parties at an event at Emirates Stadium on 8th May."

"We are investigating the situation and discussing it with senior level BYD representatives who were involved in the launch of the partnership. We will make no further comments on this matter."

BYD also stated the Hong Kong stock exchange last week saying the seal used to stamp the unauthorised contracts must have been forged.

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Sripad
SENIOR ANALYST
Football, Cricket and WWE enthusiast.
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