Real Madrid in talks with Saudi Arabia over €150 million deal
According to The Times, Real Madrid are in negotiations with Qiddiya, a Saudi group that would be linked to the Spanish club's women's team.
Leaked documents have revealed that Real Madrid are in talks with Saudi Arabia’s state-owned Qiddiya project about a €150 million partnership deal that would include becoming the lead sponsor of their women’s team, according to The Times.
The country would become the main sponsor of the team for the next 10 years. The agreement would also include a commitment on the part of Los Blancos to have a minimum of four players from the men's team promote Qiddiya - a project destined to become the Saudi capital of sports and entertainment.
The Qiddiya project is an ambitious plan being constructed on the outskirts of Riyadh and is described as an "entertainment megaproject" and a major part of Saudi's 2030 vision.
Main sponsor of Real Madrid women's team
"As part of the agreement, Qiddiya will become the main sponsor of the women's team, which will result in players travelling to Saudi Arabia to motivate girls to play sports," explains one of the documents, which according to The Times is from Saudi Arabia’s ministry of culture claiming a memorandum of understanding was agreed between Real Madrid and the project.
The Times has seen two separate documents detailing a proposed partnership between the club and Qiddiya, with a project worth over €6.5 billion being built close to Riyadh, intended to become Saudi Arabia’s "capital of sports and entertainment".
Neither party has wanted to comment on the matter for the moment, neither to confirm nor to deny the information published in the UK.