CaixaBank set to part ways with Real Madrid
Spanish soccer powerhouses Real Madrid have a vacancy for a financial services sponsor from next season after CaixaBank decided not to renew its deal with the club.
The bank has been a partner of the LaLiga outfit since 2017 but has cited a change in its sponsorship strategy for not remaining in place beyond the 2019-20 season, according to the Palco23 website.
The current deal is reported to be worth €15 million ($17 million) over three and a half seasons.
Prior to CaixaBank coming on board, BBVA was Real’s banking sponsor.
CaixaBank has partnerships with a long list of clubs in LaLiga and the second-tier Segunda División, and elsewhere in sport supports the RFEF, the national soccer federation, the FEB, the basketball counterpart, and the CPE, the Spanish Paralympic committee.
Real Madrid are a point clear of arch-rivals Barcelona, with a game in hand, as the LaLiga season approaches its delayed climax after a suspension caused by the coronavirus pandemic.
Meanwhile, LaLiga club Osasuna are reported to have agreed a mutual separation with main shirt sponsor Kirolbet.
The deal was due to run to the end of the 2020-21 season but is being terminated at the end of the current campaign, according to regional newspaper Diario de Navarra.
The move follows steps taken by the Spanish coalition government to impose a blanket ban on betting advertising in sport, including sponsorship.
Osasuna are one of eight teams in the Spanish top flight with a betting company as their main sponsor.