Real Madrid are set to announce a sponsorship partnership with a regional bank in Saudi Arabia. The Spanish capital club has concluded a contract with the financial institution to become an official partner. Thus making them the club’s sole current Saudi-based sponsor. Real Madrid formerly had a sponsorship agreement with Saudi Telecom that terminated in 2013.
The current arrangement with the regional bank is believed to be insignificant. There will be no branding on the clothes, training gear, or stadium.This development follows another collaboration agreement in the Middle East. Real Madrid recently announced a new sponsorship partnership with Visit Dubai.
This collaboration with the Saudi regional bank is said to be similar in nature to the club’s previous arrangement with Guatemalan-based banking institution Bantrab. It aims to increase the bank’s client base in Saudi Arabia.
Real Madrid emphasises that this sponsorship agreement is distinct from the Saudi Public Investment Fund (PIF). PIF is the country’s sovereign wealth fund, and it owns Newcastle United in the Premier League.
In January 2024, Real Madrid will travel to Saudi Arabia to compete in the Spanish Super Cup. On January 10, the La Liga heavyweights will face local rivals Atletico Madrid in the semi-finals.The victors will face either Barcelona or Osasuna in the final on January 14.
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