In 2011, Etihad Airways sponsored City’s stadium and shirts for 10 years for £400m.
So maybe that was because they were impressed by City’s year on year, decade after decade success leading to world renown? In the preceding 40 years, Man City had won League Cup, one FA Cup (literally just) and a Div 2 championship
So maybe it was the normal market rate and they DIDN’T inflate it by “hundreds of millions”. But Arsenal had a virtually similar deal from an airline (Fly Emirates) and that was just £90m for 15 years

… and in the previous 20 years (not the 40 I referenced for City), Arsenal had won four Div 1/PL titles, a European trophy, five FA Cups and a League Cup
So maybe it was because Etihad were the market leaders with decades of success (that City didn’t have)? But that year, Etihad reported its first ever profit
So they didn’t pay the market rate OR ANYWHERE NEAR IT…. they didn’t pay a little extra because they were getting a global brand with a HUGE fan base … they didn’t pay for a successful club. They massively over inflated a sponsorship deal for an average club purely because they could throw “hundreds of millions” away and not blink and because they were effectively owner/sponsor.
In my family and friends, I know United fans, Liverpool fans, Villa fans, Everton fans, Forest fans, even City fans. Every single one of them including a long term mate who’s a City fan and season ticket holder says they massively cheated… Colin just doesn’t care (though to be slightly fair to him, he has supported them for 40+ years home and away).
It’s just journalist shills and fake fans who think it was nothing/minor.