Real Madrid extends bwin shirt sponsorship

Real Madrid announced yesterday that it has extended its shirt sponsorship deal with Austria-based betting firm bwin for another three years.

Bwin's name first appeared on Madrid's shirt at the start of the 2007-08 season in a deal believed to be worth more than €15 million a year. The new deal ends after the 2012-13 season. No financial details have been made available however the deal could be worth in excess of €20 million a year.

"We are proud to sponsor the greatest football club in the world. bwin and Real Madrid are linked by much more than just a sponsorship commitment lasting several years," said co-CEO of bwin Manfred Bodner. "A huge passion for football and for sports in general are just a few of the points that form the basis for the lasting and successful collaboration between us. We are convinced that in the next few years Real Madrid will continue to add to its incomparable history with a tenth Champions League title."

Real Madrid president Florentino Pérez added: "International football needs partners like bwin, globally renowned for its experience and its involvement in sports sponsorship. We are very pleased with this fruitful collaboration: with this alliance we can strengthen our links with leading international companies." Madrid's previous sponsor was BenQ, the German handset business of Taiwan's BenQ Corp, which went bankrupt.