No it wasn't
The Etihad sponsorship was announced at £400m for ten years (40m per season)
At the start, Etihad were paying ott, as we were not competing in the CL or close to winning the Prem
The benefit was that as City progressed and became successful on the field, then Etihad would benefit
So in a way it was front loaded in the fact that they paid too much initially, but certainly are below market rate now if it's still £40m
I don't see how it could have changed as it was a ten year deal. We haven't binned Nike and have honoured the deal. Some clubs (Chelsea) bought themselves out of a shirt deal when a better offer appeared
The other thing that makes me believe that the Etihad dead hasn't increased is that Etihad will have been consulted on our sleeve sponsorship and will have agreed to share
I don't think they would have agreed if they'd were stumping up more cash on a new deal