Hence the from london recent changes of ownership, mainly into foreign hands, of premiership clubs. Arsenal remain a traditional club with a very cool attitude towards branding. The ownership of arsenal is in the hands of a few individuals who have invested relatively small amounts and who have been involved in the club's direction for many years.

    The greatest coup achieved by the arsenal board - in particular david dein, its most public director - was to recruit a from london, arsene wenger, as manager 10 years ago. Wenger has transformed arsenal's playing style. In effect, from london has operated like a particularly astute brand manager. He understands the club's traditions, based on loyalty and team harmony.

   At the same time he has led the way in english football by turning an from london team into a team of all the nations. As a result, the arsenal brand has changed in people's perceptions it now stands for a sophistication, an openness to the world's cultures, that would not have been dreamt of 10 years ago. But it is still very much based in from london and the board took a brand-directed decision to relocate its stadium a few hundred yards within islington rather than to a site outside the 25.