Oh Keith, Here We Go Again
May 1st, 2008 by 'holic
The news that Keith Edelman is departing the Grove for pastures new will doubtless spark all manner of speculation as tabloid vultures look for easy pickings.
Before you get carried along on a wave of misguided takeover speculation I would ask you consider all potential scenarios, including this one.
Keith Edelman is not a significant shareholder, more hired expertise who was tasked with bringing the revenue streams online that were required to complete the move to Ashburton Grove.
He has been extremely successful in that role, but the deals that he put in place are partly responsible for today’s announcement. Major income from shirt sponsorship, stadium naming rights, and kit supply, are in place on long-term deals. He can’t get more people into a stadium that posts ‘sold out’ notices every fortnight. The property arm is effectively just waiting to move into the business of receiving, rather than spending, cash.
That means the areas in which growth can be accelerated fall in the merchandising and media fields. It is not beyond the realms of possibility that Keith’s colleagues have suggested his (extremely well paid) work is now done, and it is time for someone with more relevant expertise to take the job forward. That may well suit his plans as well.
Not surprisingly the areas in which we are reported to have negotiated with Stan Kroenke are very much concerned with merchandising and media. Kroenke would be a key ally in any bid to keep alternative predators at bay, and presumably is being at very least ‘kept in the loop’ about developments.
The twelve month ‘handover’ period suggests an amicable departure for Edelman. The appointment of a safe pair of hands in the shape of Ken Friar is clearly a temporary measure. Lest we forget, it should be pointed out how desperately urgent it was thought to be for us to appoint a new Director of Football a year ago. The job performed by Friar in the ensuing period demonstrates the danger of knee-jerk reactions in such situations.
Understand this. The club is no more at risk of a takeover today than it was last week, last month or last year. The board may even just have strengthened their ability to withstand unwarranted attention.
19 Responses to “Oh Keith, Here We Go Again”
still think Dein is behind it. Dein and Edelman don’t get on, Red and White recently increased their stake. Edelman and Fiszman don’t get on. The first thing a takeover consortium usually does is to get rid of the CEO or the CFO. I can’t imagine why the club would do this and simply invite speculation, it would be a spectacularly bad PR move with Dein and Usmanov only three weeks ago having increased their stake. Edelman is the most opposed to outside investment and this comes just after R&W continue to show their intentions. Though it is true Edelman’s holding doesn’t amount to much, why would they get rid of the person most symbolic of the board’s anti takeover stance?
I take the point about Kroenke, I honestly hadn’t thought about that. But Dein was always going to resurface when things started to sour for the team. This stinks to me. Whenever senior management are fired on shaky ground, it is not unusual (I know you sang that!) for them to be found some work to do for six months or a year to justify continued salary payment.
What are you talking about?
Edelman was behind the departure of Dein (who was a major shareholder at the time).
Do you have any idea between what the responsibilities of shareholders as compared to directors?
And you quote Kroneke as a friend? Kroenke is the friend of David Dein. I will not be surprised if Stan put the removal of Edelman has a first condition of him taking on a more formal role.
Expect Dein back very soon.
Mark, I am proposing an alternative viewpoint to consider. Edelman was by no means alone in forcing Dein out. Be prepared to see beyond the soundbites. And friend does not mean the same thing as ally, by the way.
Dutch, Tom Jones I ain’t!
You are following a logical path there but it is based on assumptions that may not hold water. I’m just pointing out an alternative that fits with what I am hearing.
We may both be wrong, but hell, what else was there to speculate about today? My spam filter really doesn’t like where you are posting from, by the way!
😉
If Edelman’s departure was a’ give us your pass you’re no longer welcome’ Double D type end, I think the conspiracy theorists might have something to get their teeth into. As this seems like a straightforward parting of the ways I’m not sure if it’s worth getting worked up about. Naive(or uniformed) I may be but we shall see!
u’v brianwashed me,
we dont need Edelman
we dont need Edelman
we dont need Edelman
what position does he play?
dein keeps turning up like a bad smell whenever there is unhappiness or uncertainty around the club.
He seems to be way too slimy for my liking, and I don’t think Edelman was the only board member who wanted him out.
Personally, I think dein has displayed less than sensible judgement for quite a while now, and I would really not like to see him involved in the club in any meaningful way going forward.
He didn’t want the new stadium, he kept on trying to make out he was the reason AW stayed on, he wasn’t in favour of a sensible business model, he just wanted an Abromovich type of “benefactor”.
Quite frankly, he seems less than astute from a business perspective, and I think the club are well rid of him.
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Thanks for providing a sensible alternative perspective ‘holic. You are as likely to be right as any other theories out there since none of us really know what goes on in the boardroom.
After 8 years in the same role maybe he really does just want a change and maybe it will benefit the club to bring someone with a football or sporting background into the role.
I think the reason everyone is so quick to look for hidden meanings is because they don’t want to be taken by surprise if things turn out to be more than they seem. As it stands, we are all just interested observers so we can only wait and see what the picture looks like after the gaps get filled in.
The word I have from my lot, who aren’t often wrong, is that Edelman opposed a significant investment that is looming. Could be bollocks, but I guess we’ll find out soon enough.
I believe they may not be wrong, Dutch. That would not contradict my understanding.
Well that’s all very intriguing. Hopefully not a “significant investment” from Fat and Orange.
Very interesting piece though ‘holic.
Now can you do a similar job on “Robin van Persie has been ruled out of the final home fixture of the season, but his absence is only precautionary”?
2 games left and the slimmest of chances for the league or 2nd place and he’s rested as a precaution. WTF? This presumably so he can go to Euro 2008 and wreck his body yet again and miss the whole of next season.
For someone who doesn’t like international football (and who does?) AW sure has a strange way of showing it.
I and 60,000 other Gooners (ok, a few scouse included) are paying good money on Sunday to see our best available team.
Play him, let him get injured and let the Dutch find out how it feels to be on the receiving end for once.
FLAMINI STAYIN-BULLSHIT !
this piece of Wenger’s talk is VERY VERY SARCASTIC
http://tinyurl.com/4ufato
” For me yes he stays, but does he tell me the complete truth, I don’t know”
“Ideally I want him to stay, but he’s free. That means if you get £2million here, £4 million somewhere else, you can go to the one who gives you four” (THIS IS TO HINT THAT FLAMINI IS MONEY HUNGRY is it???)
“[If he goes] we will find a solution, don’t worry,” said the 58-year-old”
THIS SEEMS TO BE AN INDIRECT INFORMAL ANNOUNCEMENT !!!
Let’s wait & see but I get that inference as well, AG.
billy jean is not my lover
et le golf, alors?
It was wonderful thank you.
Sorry, merci 😉
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