MADRID — Spanish soccer club Real Madrid has renewed a sponsorship deal with the airline Emirates until 2026, the team said on Friday.
While the parties did not disclose financial details, Spanish sports newspaper Marca reported the contract’s value at about 70 million euros per year plus variables.
The United Arab Emirates flag carrier’s logo has been emblazoned on the jerseys worn by Real Madrid players since 2013.
Emirates first became Real Madrid’s global sponsor in 2011. Since then, the Spanish club has won 22 titles, including five coveted UEFA Champions League cups.
Jersey sponsorships are crucial for popular teams with high shirt sales like Real Madrid, as they expose the brands’ logos to millions of viewers across the globe.
Last season, Real Madrid led global soccer jersey sales through online retailer Amazon with 3.3 million euros ($3.21 million) in merchandising revenue, according to data from consulting firm Kiliagon. ($1 = 1.0290 euros) (Reporting by Joanna Jonczyk-Gwizdala and Joao Manuel Mauricio, Editing by Inti Landauro, David Latona and David Evans)