Hate the idea. And the thing with football (soccer, whatever) larger teams tend to have one 3rd lustre shirt sponsor. It's not that intrusive. Smaller teams start to sell of every bloody inch. Look at the kits from teams in the French league 1.
Hockey teams in Europe do much the same to generate revenue. It just looks horrible.
I don't know too much about soccer other than when I passively watch the World Cup or Olympics, but it sounds like Arsenal in the UK, you'd expect their jerseys to say "Arsenal" on them or have the official team logo...no, their jerseys just say "Fly Emerates" on the front...first impression from the ingonrants is "so they are the Fly Emerates team?"
What I see this lead to as well iif it gets too out of control is worse than AHL level ads on the ice, more like Euro standards - pretty much every piece of white space is sponsored by someone so it's hard to tell where the lines and faceoff dots are. If the goalie wasn't standing on it almost the whole game, the crease would be one big ad as well. Even paint the goal nets with some kind of ad