February 23 – Real Madrid have reportedly held “advanced talks’” with Saudi Arabia’s state-owned Qiddiya over a potential lucrative ten-year €150 million sponsorship deal.
Under the arrangement, Qiddiya, a €6.6 billion entertainment megaproject taking shape close to the Saudi capital would, among other things, become the lead sponsor of Real Madrid’s women’s team.
Qiddiya forms a part of Saudi Arabia’s Vision 2030. The project has been established to become the sports capital of the Kingdom.
Negotiations have been ongoing and Real would reportedly dedicate “a minimum of four players” from the men’s first team to endorse Qiddiya, which would also be promoted on the team’s website and social media channels.
In a a memorandum of understanding, the Spanish club would evaluate the possibility of “developing a Real Madrid Entertainment Centre” in Qiddiya, that would include a museum, an interactive entertainment area and a merchandise store.
Real Madrid’s s main shirt sponsorship deal with Emirates airline will expire at the end of the 2021/22 season.
Contact the writer of this story, Samindra Kunti, at moc.l1735001666labto1735001666ofdlr1735001666owedi1735001666sni@o1735001666fni1735001666