Real Madrid has agreed a record four-year deal for Emirates to become its new shirt sponsor, according to the Marca newspaper, reports SportBusiness.
The Spanish sports daily claims that the deal will be officially signed on April 30 and will be worth a club record fee of between Eur24 million and Eur26 million per year.
The agreement will enhance Emirates’ relationship with Real, with the Dubai-based airline currently serving as a second tier partner of the club.
Emirates agreed a five-season sponsorship agreement, reportedly worth Eur5 million per year, in July 2011 to become a partner and official airline to the club.
The Primera Division champion’s deal with current shirt sponsor Bwin ends following the conclusion of the current season and is reported to be worth Eur23 million per year.
The betting company has served as Real’s shirt sponsor since July 2007 and Marca reports that it will continue its association with the club, but revert to a second-tier partner.