Real Madrid is set to announce a sponsorship agreement with a regional bank in Saudi Arabia.
This partnership will establish the bank as an official partner of the club and is set to be the only current Saudi-based sponsor of Real Madrid.
Unlike previous sponsorships, this deal is not expected to include branding on the club’s shirts, training kits, or stadium.
Real Madrid has been active in expanding its presence in the Middle East, with the recent announcement of a significant sponsorship agreement with the tourism board Visit Dubai.
The sponsorship deal with the regional bank in Saudi Arabia is similar to existing agreements with financial institutions in other regions and is aimed at growing the bank’s customer base in Saudi Arabia.
It’s important to note that this sponsorship deal is distinct from the Saudi Public Investment Fund (PIF), the country’s sovereign wealth fund, which owns Premier League club Newcastle United.
Real Madrid’s involvement in Saudi Arabia will also include participation in the Spanish Super Cup in January 2024, where they are set to face Atletico Madrid in the semi-finals.