Finance guru: Arsenal fighting a losing battle after ‘unprecedented’ boardroom ‘power play’
Arsenal will contest the Advertising Standards Agency’s unprecedented ban on their adverts with Socios – but they are “fighting a losing battle”.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the ASA’s recent ruling and its ripple effect through the game.
The Gunners partnered with Socios in August in one of the dozens of high-profile cryptocurrency tie-ins within football in the last 12 months.
The ASA have, as per The Guardian on 22 December, banned two online Arsenal-Socios promotions for misleading uninitiated customers.
In a press release quoted by The Guardian, Arsenal stated that they want an independent review to glean “greater clarity on the ASA’s current position.”
Plumley, who spotted a wider trend in Arsenal’s decision to dispute the ASA’s verdict, claims they are merely trying to “save face”.
“We see it across the board in football these days,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“The decision gets announced and the immediate response is to challenge the decision back again.
“There is potentially a bit of trying to save face within that. They may be fighting a losing battle in that regard.
“But this is all so new and there is no precedent. The club would probably argue that the standards in relation to this haven’t been established.
“Until there are some standards and some clarity, you almost don’t know what you’re up against. That’s the long-term look in terms of where it goes in the future.
“But it’s a power play. The clubs know they are powerful and they will want to know why they can’t do this.
“They’d say it’s their brand and ask who the authorities are to say they can’t attach it to a particular company.”
Arsenal’s commercial income totalled £142.3million over the last recorded financial year.
They are one of 18 Premier League teams to have signed up with a crypto partner.
In other news, pundit tips Arsenal to sign Anthony Martial from Man United after Sky update.