Korean tyre company Hankook Tire has signed off on an extension of its global sponsorship with LaLiga giants Real Madrid for another four seasons until the end of the 2022-23 season.
The previous three-year deal, signed in 2016, expired at the end of the 2018-19 season. The agreement on a four-year extension was indicated in the club’s financial report for the 2018-19 season, published in August 2019.
In the report, the club added that the average duration of the club’s partner companies is around seven years – the length of Hankook’s association with the club by the end of the new deal.
The extension includes branding on LED perimeter advertising at the Santiago Bernabéu stadium, but not on interview backdrops – rights currently awarded to kit supplier adidas, main shirt sponsor Emirates, global sponsors Nivea for Men and Mahou and regional sponsor Movistar.
As a global sponsor, Hankook also gets rights to use players in television commercials and multi-media campaigns worldwide.
In 2016-17, Hankook’s first Real Madrid-themed TVC starred Cristiano Ronaldo and included Gareth Bale, Sergio Ramos and Marcelo.
In 2018-19, the TVC starred Gareth Bale and included Toni Kroos, Ramos and Marcelo.
Along with Hankook, Nivea for Men and Mahou, Real Madrid’s global sponsor tier includes Audi, Exness, EA Sports and Hugo Boss.
Movistar are situated in the regional sponsor tier with nine other brands, including Cordere, Sanitas and Coca-Cola.
Real Madrid placed fourth for commercial revenues in the 2018-19 season with revenue of €354.6m ($393m), according to the recently-published Deloitte Football Money League 2020.
LaLiga rivals Barcelona’s were ranked first with commercial revenue of €383.5m.