Spanish LaLiga football club Real Madrid has reached an agreement to extend its shirt sponsorship deal with the Emirates airline, according to the Palco23 website.
The Dubai-based company commenced a five-year contract with Real in the 2013-14 season and is now said to have reached an agreement to extend this through to the end of 2021-22 campaign. Palco23 said the new deal will be worth around €70m ($83.4m) per year across the new four-season term.
The extension will reportedly see Emirates branding remain on Real Madrid’s shirt, as well as on its training kit. In addition, the contract is said to include the installation of four LED advertising boards by both goals at the club’s home ground, the Santiago Bernabeu.
While the deal has not yet been made official, documents were reportedly signed during the summer to cement the renewal.