Spanish Liga football club Real Madrid has signed up its first sponsorship deal in China by penning an agreement with electric car manufacturer Luyuan.
Neither the length nor the value of the deal was disclosed.
Emilio Butragueño, Real’s director of institutional relations, said: “We have shared values with them – the desire to constantly improve, the quest for excellence and a vocation for leadership. Through its brand and products, Luyuan aims to make life easier for society, using quality, innovation, coexistence and respect for the environment. This is the beginning of a long and successful collaboration that will mark part of the future of our companies.”
Ni Jie, president of Luyuan, added: “Football and electric vehicles have things in common such as being green, healthy, looking after the environment and being close to the wider public."