The stadium will be known, with immediate effect and for the next 15 years, as "Emirates Stadium".

The deal is worth £100million, and in addition Emirates will be taking over as Arsenal's shirt sponsors for 8 years starting in 2006/07 (the season that Arsenal are expecting to start playing at Ashburton Grove).

This is by far the biggest sponsorship deal that English football has ever seen, and it knocks a considerable chunk off the estimated £357million cost of the move to the "New Highbury".

See official site's story for loads of mutual hand and back-rubbing from Arsenal and Emirates (and some pictures of the spectacular new Arsenal stadium). No mention of BMI from Arsenal and no mention of Chelsea from Emirates. Our Premiership rivals must just love the fact that their shirts now carry the name of a company that feels they deserve a bigger vehicle for their name. Look out for comments from Chelsea about how it's their decision to end the Emirates connection.

Emirates are quite heavily involved in sports sponsorship, having sponsored such things as England Sevens (Rugby Union) Golf tournaments, horse races (including the Dubai World Cup), Collingwood Aussie Rules football, and Cricket Umpires. It's not just Chelsea that they sponsor in the Premiership, either, they are sponsors of the referees.

O2 continue to be the shirt sponsor till the end of 2005-2006, and apparently the club hopes for continuing joint ventures beyond that.