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Arsenal finalising major new hire who is set to help strike £78m deal straight away
Arsenal are putting the finishing touches to a behind-the-scenes shake-up that could be hugely lucrative for the club.
The Gunners have one of the highest turnovers in world football, thanks to both their exploits on the pitch and their work of their commercial department.
But a key part of their operation for almost 14 years is chief executive Vinai Venkatesham, who will formally leave his position at the end of the month.
His successor has one key task to orchestrate straight away.
Richard Garlick to help strike new UEFA deal
It was announced in January that Richard Garlick would step into Venkatesham’s role with the title of managing director.
The 47-year-old has been Arsenal‘s director of football operations since 2021 and the Gunners are now finalising the last details for his transition into Venkatesham’s position.
Significantly, Garlick will have a seat on the European Club Association’s executive board as part of his new role.
It is an important time for the powerful organisation, who act as the sole representatives for clubs in relations with UEFA.
As reported by , the ECA will now cooperate on selling the commercial rights for UEFA club competitions from the 2027 cycle onwards.
The body has submitted a request for proposals from marketing and sales agencies to find a buyer for the rights, with a deadline of 8th July.
As Arsenal’s representative on the select board, Garlick will be directly involved in the process.
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How much can Arsenal make from new UEFA deal?
The current Champions League deal for single season is worth in excess of £2.4bn, with that cash distributed among participating clubs.
Arsenal banked around £78m from their run to the quarter-finals in 2023-24.
And the fact that the competition format will expand from next season is expected to increase the total pot by a significant margin.
That means the Gunners can hope to achieve that £78m figure annually, so long as they continue to qualify for the Champions League.
It is therefore in Garlick’s and Arsenal’s interests to secure the very best deal for the competition’s commercial rights.