Finance guru issues verdict on Arsenal ‘backlash’ after ruling upheld
The “backlash” Arsenal have received over their marketing of Socios may prevent other clubs from partnering with such companies in the future.
That is thew view of football finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about a ruling from the Advertising Standards Authority.
On 10 August, the ASA upheld their ruling that Arsenal’s marketing of Socios, a digital fan token firm, was “misleading” and “irresponsible”.
Socios have deals with six Premier League clubs, including champions Manchester City, as well as European giants Barcelona, Juventus and Paris Saint-Germain.
Plumley said the clubs involved have been “short sighted” in signing such deals.
“It will make clubs more aware of some of the pitfalls if they weren’t already,” he told Football Insider.
“I said this before, a lot of them were chasing the money more than anything. That was front and centre.
“It was less about the risks associated. Everyone wanted to be on that train especially if that train means greater revenues. I think clubs have been short sighted with it.
“This kind of backlash that we have seen might make more clubs think twice about it. They might think, ‘Is this really worth it. Should we look elsewhere in the short to medium term.’”
A statement from Arsenal read: “We are disappointed by the ASA’s decision to uphold their ruling following our appeal.
“We have complied with the ASA’s guidance since the original ruling, and we will continue to comply in our future communications in this fast-moving area.”
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