October 30 – Real Madrid have struck another deal with affluent Gulf investors as they bid maintain their status as the world’s richest club.
With arch-rivals Barcelona backed by the Qataris, Real have confirmed a sponsorship deal with Abu Dhabi-based International Petroleum Investment Company (IPIC) in a deal reportedly worth €20 million per season.
Last year the European champions agreed a five-year shirt sponsorship deal with Dubai-based airline Emirates which Spanish media reported was worth €30 million a season.
“The ambition of Real Madrid is to be the best club of the 21st century,” said Real president Florentino Perez. “This agreement is a guarantee of success for both institutions and will help further promote Real Madrid across all continents.”
“As of today, IPIC will become a key partner that shares our values and will help us promote and strengthen the Real Madrid brand throughout every continent,” he added.
“From now on, as one of our most important sponsors, they will be instrumental in carrying out a series of crucial projects for Real Madrid’s future.”
IPIC is owned by the Abu Dhabi government and the deal will help fund a planned overhaul of the Bernabeu stadium at an estimated cost of €400 million and also includes expanding Real’s famed soccer schools around the world.
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