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$91 Million for a Pair of Gloves: Chelsea Leads Global Sports' Spending Spree

· Sports,Economics

As the Thursday 5:00pm deadline approaches for the English Premier League Clubs opportunity to finalize their teams for the upcoming season, Chelsea determined that signing Kepa Arrizabalaga from Athetic Bilabao was a step in the right direction for the club.

The 23-year-old Spanish goalie broke numerous records upon his arrival in Chelsea. He surpassed the club record fee set by striker Alvaro Morata by more than $16 million, along with setting a new world record. With a hefty price tag of $91 million, expectations are high for the young player. He showcased his skills this summer while representing Spain in the 2018 World Cup. Arrizabalaga had seven clean shots in 30 Liga games in 2017-18 season, proving he is a tough competitor in various platforms. Kepa feels optimistic about having a winning future with the team, stating, "So many things attracted me to the club, all the titles the club has won, the other players, the city, the English Premier League. It's an accumulation of things, and I am very glad Chelsea has decided to trust me and to take me in as well."

With a focus on bringing youth to the squad, a long term mindset was adopted in the recruitment process. In addition to youth, Arrizabalaga brings much anticipated consistency in performance compared to his predecessor Thibaut Courtois. "He has already demonstrated fantastic quality and consistency and will be a big part of any success Chelsea have in the coming years,” stated Marina Granovskaia, the director of Chelsea.

A YouTube compilation of Arrizabalaga's best saves

The world of Global Sponsorship Spending is increasing steadily, resulting in world records such as Arrizabalaga’s being broken more frequently than ever before. Sponsorship spending is growing fast. From 2016-17, 4.2% of Sponsorship Spending increased globally, trending to a 4.1% growth in 2015. Projections from the ESP have 2018 Global Sponsorship Spending number rising another 4.9%, accounting for $65.8 billion.

Perhaps seeing larger significant figures such as in Arrizabalaga’s deal is the new normal looking into the future of Sponsorship Spending?

Written by Zachary Gladstone & Luca Guerrini-Maraldi, Edited by Rachel Weissman & Alexander Fleiss


Contact the Writer: Zachary Gladstone

Written by Zachary Gladstone & Luca Guerrini-Maraldi, Edited by Rachel Weissman & Alexander Fleiss

Contact the Writer: Zachary Gladstone

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