Spanish banking group Santander has taken up the option to extend its title sponsorship of La Liga for a further year, according to Palco23.

The Spanish sports business outlet says that Santander has activated an extension clause inserted in the contract originally signed back in 2016 to retain the naming rights to Spanish soccer's top flight until the end of the 2019/20 season.

The terms of the agreement are already written into the existing contract, which sees Santander pay La Liga a reported €20 million per year.

The deal also covers Segunda División, the second tier of Spanish soccer. (www.sportspromedia.com/.)