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Real Madrid hold €150m sponsorship talks with Saudi Arabia

Real Madrid have reportedly held advanced talks with Saudi Arabia over a potentially lucrative sponsorship deal.

Real Madrid hold €150m sponsorship talks with Saudi Arabia

Documents seen by the UK-based newspaper, The Times, shows that the current La Liga champions have been offered €150 million to promote the Qiddiya project for up to ten years, which is owned by the Saudi state.

Qiddiya is tourism project formed by Saudi Arabia as part of the Saudi Vision 2030 framework, based just outside of Riyadh. It is hoped that it will become the focal point for entertainment, sports and the arts in the country.

As part of the deal, Real Madrid would offer up four players to endorse Qiddiya, as well as promoting the project on the club's website and social channels.

Additionally, Qiddiya would become the principle sponsor of Los Blancos' women's team, who would be required to travel to Saudi Arabia and inspire women and girls in the country to take up sports.

Another document reportedly seen, includes a memorandum of understanding (MoU), drafted by Real Madrid to develop a club entertainment centre in Qiddiya, alongside a museum and merchandise store.

The report comes as Madrid's main shirt sponsorship deal with the Emirates Airline is set to expire at the end of the 2021/22 season.

Saudi Arabia has been looking to establish a relationship with the sporting world as a way of boosting its poor reputation around the world, following information of its human rights record. It has hosted major events in recent years, including boxing fights, football games like the Supercoppa Italiana and this year, will play host to a set of Formula E races.

Author: Jake Wilkin