Saudi Arabia to give Real Madrid €150 million boost through sponsorship
Talks are ongoing to find a sponsor for the club's women's team
Real Madrid are looking to improve their financial situation following the havoc wreaked by the coronavirus pandemic. As revealed by The Times, the Spanish club are in negotiations with the Saudi group Qiddiya, a theme park and leisure center that Saudi Arabia is building near Ryad to the cost of six billion euros to become the country's “capital of sports and entertainment.”
The agreement, according to the British newspaper, would be worth around 150 million euros and would last for 10 years. Qiddiya would become the main sponsor of Madrid's women's team.
Florentino Perez is hunting for liquidity to compensate for the 300 million euros the club have taken off their budget due to the pandemic.
The economic impulse that this agreement would bring would allow Madrid to become one of the strongest women's teams in Europe and would create genuine competition for Barça in La Liga.
At the moment, Barça are running away with the title. Lluis Cortes' side have won all 16 of their games for 48 points. Madrid, meanwhile, are third, 10 points back having played two games more. Levante are second with 41 points but even they have played three more games than Barça, who are uncatchable this season.
NEW FC BARCELONA PODCAST IN ENGLISH
Topics with the letter
