Kieran Maguire: Arsenal 'very lucky' as new £40m deal agreed
Arsenal are “very lucky” to have renewed their partnership with Visit Rwanda at the same price as the previous deal.
So says finance boffin Kieran Maguire, speaking exclusively to Football Insider after Football.London reported the renewal on 17 August.
The deal is understood to be worth £10million-a-year over the next four years, and that figure matches the one agreed first agreed in 2018.
The renewal comes just days after Rwandan president Paul Kagame took aim at Arsenal’s poor form via Twitter.
Arsenal placed 5th in the Premier League when they signed with Visit Rwanda in 2017-18 but have finished 8th in each of the last two seasons.
And Maguire claims the Gunners are fortunate to have secured the £40m deal in light of their sporting decline.
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“Arsenal are very lucky,” he told Football Insider correspondent Adam Williams.
“They are a club that is in danger of becoming detached financially from the top four.
“We have seen Stan Kroenke loosen the purse strings. But in the Premier League, you have to run to stand still.
“At the moment, they are running at half a length behind some of the other clubs. They have a lot of catching up to do.
“From my point of view, it is difficult to see the financial benefit to Rwanda for this.
“Decisions are not being made for marketing or tourism reasons. It seems like a vanity project to me.“