Serie A is now the 2nd most popular League in the world.What's the global viewing figures for Serie A?
Is £25m a year so far out of whack in that context? What would you say is a fair market sponsorship deal for a Champions League club with the backing to achieve the lofty ambitions of the owners? More than Everton, West Ham and Wolves, right? Less than regular CL clubs like yourself and your London counterparts, right?
YES!!!
Your argument is still the same - You say that the inflated valuation is because your owners are PIF (ergo lots of money, state-owned therefore are "ambitious"). This isn't market value, market value is what other Clubs get based off their brand size (history, fanbase footprint, past success, consistent presence in the top flight, regularly competing in Europe and for trophies etc...).
Because your owners have a bottomless pit of money ("ambitious") doesn't set "market value". If this were the case then Newcastle Utd would have sponsors queuing up to sponsor the Club that aren't part of the PIF. You haven't.