Did Ricoh Really Pay Ten Million?
Fletcher said in the article: " In my current role at Coventry I was handed a encyclopaedia thick report on sponsorship commissioned by my predecessor. It contained the usual 'codswallop' but had two case histories about both the McAlpine and Reebok naming rights, two deals that I had completed. On both occasions the sponsorship fees quoted were wildly inaccurate.
Although sadly I have to shoulder some of the blame, as I too am not prepared to ever divulge the true net value of the sponsorship deals I have concluded. Why should I?
If everyone else is exaggerating so will I, otherwise my board will think I've completed a poor deal. And the myth goes on. So all is fair, providing that not of us believe any figures we read. I know that the Banks don't. "
Although sadly I have to shoulder some of the blame, as I too am not prepared to ever divulge the true net value of the sponsorship deals I have concluded. Why should I?
If everyone else is exaggerating so will I, otherwise my board will think I've completed a poor deal. And the myth goes on. So all is fair, providing that not of us believe any figures we read. I know that the Banks don't. "