Real Madrid sign partnership with China's Beijing Guoan

Real Madrid have entered a strategic partnership with Chinese financial group Citic.

Real will assist the running and management of Beijing Guoan, which has an association with Citic, and in exchange the Chinese company will promote the Real Madrid brand name throughout the country.

The agreement, signed in Madrid by Florentino Perez and Li Shilin, president of Citic Guoan, does not include any type of purchase or financial involvement of Real in Gouan.

It was suggested in the Chinese press during the week that Real had taken a 25 per cent stake in Beijing Guoan.