Real Madrid reach agreement with a Saudi Arabian Bank to become a new official partner

Real Madrid are poised to reveal a sponsorship agreement with a regional bank in Saudi Arabia, reports Guillermo Rai of The Athletic.

The Spanish capital club have finalised a deal with the financial institution to assume the role of an official partner, who will now be the only current Saudi-based sponsor of Madrid.

Previously, Real Madrid had a sponsorship contract with Saudi Telecom, which expired in 2013.

The present arrangement with the regional bank is understood to be not significant, and will not include any branding on the shirts, training kit, or stadium.

This development comes on the back of another partnership tie-up in the Middle East, with Real Madrid recently announcing a larger sponsorship agreement with tourism board Visit Dubai.

This partnership with the regional bank in Saudi Arabia is believed to be similar in nature to the club’s existing agreement with Guatemalan-based financial group Bantrab and is aimed at expanding the bank’s customer base in Saudi Arabia.

Real Madrid clarifies that this sponsorship deal is separate from the Saudi Public Investment Fund (PIF), the country’s sovereign wealth fund, who own Premier League club Newcastle United.

Real Madrid will be travelling to Saudi Arabia in January 2024 to participate in the Spanish Super Cup.

Los Blancos will be facing local rivals Atletico Madrid in the semi-finals on January 10, with the winners set to take on one of Barcelona or Osasuna in the finals on January 14.