Real Madrid are set to smash the kit sponsorship records in club football. The club is reportedly extending its sponsorship agreement with Fly Emirates. The record five-year deal has been signed at €70m ($83.75) per annum.
The new contract will run through the 2021-2022 season.
This surpassed the current kit sponsorship deal record of $71.9 million annual deal between Manchester United and Chevrolet.
Real Madrid will renew the sponsorship arrangement with the airline operator, , according to Palco23.
The new agreement, for a total of €280 million will be the most lucrative sponsorship accord ever seen in world football. It dwarfs the Spanish record of $65 million per annum deal struck by FC Barcelona with Rakuten and the world record of $71.9 million per year deal Manchester United have in place with Chevrolet until 2021.
According to the web site, the relevant documents were signed by Madrid and Emirates in the summer but the extension has yet to be made official. Two of the conditions in the new contract include installing four LED advertising banners by both goal areas at the Santiagio Bernabéu stadium as well as publicity on the squad’s training kit.
With the Emirates sponsorship secured, Madrid will now negotiate new terms with another of their major sponsors, Adidas. According to Palco23, Real Madrid will sign a new deal worth €105 million, superseding the record transaction Barcelona signed with Nike.
Several months ago, Football Leaks had reported that Adidas had offered Madrid an agreement worth a fixed €70 million plus an additional 30 million for merchandising.