Real Madrid – La Liga To overcome the financial crisis
The pandemic has hit Real Madrid hard, particularly with no fans in the stands, and the club are in talks on how to bring new money in.
One report even says that the club is in discussions with Qiddiya, a Saudi group who own the biggest theme park in Saudi Arabia.
The report from The Times says that a 10-year contract worth 150 million euros has been discussed in meetings between representatives, as well as the possibility of sponsoring the club’s womens’ team.
Los Blancos are looking to fill a 300-million-euro gap in their budget and sponsorships have become their main source of income.
Recently, American company Providence has signed an agreement worth 205 million euros by 2027.
The club has assured its liquidity with Providence and has loans for 205 million euros.
Saudi Arabia wants to improve its image and become a reference point in sports, having previously hosted the Supercopa de Espana, while Riyadh has also hosted other major sporting events.