Real Madrid is preparing to publicize a sponsorship agreement with a regional bank from Saudi Arabia. The club has come to terms with the company to become a new official partner. This bank will be Madrid’s only current sponsor headquartered in Saudi Arabia.
In the past, Madrid had a sponsorship deal with Saudi Telecom in 2013, but that has since ended.
The new deal is not seen as substantial and will not involve the bank’s branding on Madrid’s jerseys, training uniforms, or stadium. Madrid recently announced a considerably larger sponsorship agreement with the tourism board Visit Dubai.
The sponsorship will be similar to the existing deal Madrid has with Guatemala-based financial group Bantrab. The goal is to increase the Saudi bank’s customer base within Saudi Arabia.
Madrid states this sponsorship is separate from the Saudi Public Investment Fund, the country’s sovereign wealth fund.
