Telefonica exits sponsorship deals to focus on commercial sector
Spanish telecommunications company Telefonica looks to find viable commercial opportunities through broadcast rights whilst ending multiple sponsorship agreements.
In February 2015, Telefonica signed a three-year Regional Partner agreement covering Latin America with Barcelona, worth €13m per year from 2015-16 to 2017-18.
In February 2017, Telefónica signed a 17-month agreement worth around €10m per year pro rata to become a Global Sponsor of Real Madrid.
They were also a top-tier partner of the Spanish national team where the deal was worth between €7m and €8m per year.
All of these agreements have now been severed, following Telefonica successful bid to secure the Spanish broadcast rights for the Uefa Champions League and Europa League, as well as Spanish soccer’s top tier, La Liga.
The business will now turn their focus to the commercial sector of the soccer industry through its television offering but insists they will continue partnerships in a variety of other sports through Movistar.
Movistar, is a major telecommunications brand owned by Telefonica and currently sponsors cycling’s Movistar Team, Movistar Estudiantes who play in the top tier of Spanish basketball and the Rafa Nadal Academy.