Real Madrid partners with Saudi Investment Bank as official bank sponsor
Spanish soccer giants, Real Madrid, have announced a significant partnership with Saudi Investment Bank (SAIB), a regional financial institution, solidifying their commitment to enhancing their presence in the Middle East through commercial collaborations.
This strategic alliance will grant SAIB exclusive benefits and opportunities, including the privilege of hosting events, offering promotions and co-creating digital content with the illustrious club. In turn, Real Madrid will assist SAIB in expanding its customer base and elevating brand recognition for the bank, both within Saudi Arabia and on the international stage.
It is essential to clarify that this sponsorship arrangement is distinct from the activities of the state-owned Saudi Public Investment Fund (PIF), which owns the English Premier League club, Newcastle United. It has no bearing on Real Madrid’s enduring partnership with Emirates Airline, the national carrier of the United Arab Emirates.
Faisal Al-Omram, the Chief Executive of SAIB, expressed his enthusiasm about the collaboration.
“We’re very pleased to have signed this agreement with Real Madrid, one of the best, if not the best football team in the world,” he said.
“We’re eager to offer unique experiences to Real Madrid fans in Saudi Arabia and we want this agreement to last.”
This sponsorship adds to Real Madrid’s expanding portfolio of commercial ventures in the region. Earlier this month, the club revealed a multi-year deal with Visit Dubai, which became their first official destination partner. Under this partnership, the Dubai Corporation for Tourism and Commerce Marketing (DCTCM) will provide exclusive travel and soccer experiences for Real Madrid’s fans, covering both men’s and women’s teams. Visit Dubai will also enjoy branding assets and hospitality opportunities within Real Madrid’s recently renovated Santiago Bernabeu stadium.
“We’re really excited about this partnership. It will help us to grow as a club and strengthen the relationship with all of our fans in Saudi Arabia, a country that is undergoing tremendous expansion in football terms,” Emilio Butragueño, Director of Institution Relations at Real Madrid, enthused.
“We believe it comes at the perfect time for us, so we’re really pleased and hope this alliance can last for many years.”
This partnership coincides with Saudi Arabia’s intensified efforts to secure the hosting rights for the 2034 FIFA Men’s World Cup. The Saudi Arabian Football Federation (SAFF) recently declared its intention to bid for the tournament, receiving widespread support from more than 70 FIFA Member Associations within 72 hours of the announcement.
Both the Asian Football Confederation and the Confederation of African Football have named Visit Saudi as a commercial partner. Saudi Arabia has also fostered partnerships with other football entities, including LaLiga in Spain and Italian side AS Roma, signifying the kingdom’s emergence as a significant player in sports investment.
Saudi Arabia is set to host multiple major sporting events, including the 2023 Club World Cup and the 2027 AFC Asia Cup. Despite its significant investments in sports, the kingdom has faced allegations of using its financial influence to distract from human rights concerns, restriction of women’s rights and employment the death penalty.
In its latest endeavour to bolster its domestic league, Saudi Arabia has attracted high-profile players through lucrative contracts and substantial transfer fees, with Brazilian superstar Neymar being the most recent addition to the list.
— Real Madrid C.F. (@realmadrid) October 26, 2023