January 11, 2007 2:17 PM
I promised some time ago that I would talk about the PartyGaming deal (Known as “The Deal” in an earlier post). This is a classic example of one of those deals that was much more painful than it needed to be. When I met with the head of marketing in Sweden in September, we agreed we should be able to make a sponsorship deal in the international markets—and we agreed that that deal should be simple and easily negotiated.
Three months and at least three frustrated posts later, we have managed to make a not-so-simple deal that took us much longer to negotiate than we expected. If I had taken my own advice re: getting the principles in a room (or at least on a phone) to hammer out all the business points prior to pushing the process to attorneys or business development execs at both companies, we would have done the deal in less than half the time.
That being said, we got there. And, this should be a very good deal for both companies. With all kinds of potential on the