bwin Extends Lucrative Real Madrid Sponsorship29th September 2009 7:46 am GMT
Underlining its long-term commitment to top-level football, bwin Interactive Entertainment has extended its hugely successful sponsorship agreement with Spanish football giant Real Madrid FC, continuing the relationship between the two parties until the end of the 2012/13 season.
The agreement between the online gaming provider and one of the most popular and successful football clubs of the 20th century becomes effective from July 1st 2010 and extends the current agreement by three years.
According to Spanish news sources, the deal could be worth an estimated €23-30 million per season, which if correct would surpass the recent world record sponsorship deal announced by Manchester United earlier this year with Aon Corp, worth £20 million per season which begins in 2010/11.
Both bwin and Real Madrid said they were delighted about the continued co-operation between the parties, which goes back to the 2007/08 season, and have emphasised its significance for international top-level football.
"We are proud of being able to provide long-term support to the most legendary football club in the world," said Manfred Bodner, Co-CEO of bwin. "bwin and Real Madrid are united not only by their long-standing sponsorship partnership.
"The tremendous passion for football and the commitment to sport in general, are just some of the points that form the strong foundations of an enduring and successful partnership between bwin and Real Madrid. We are convinced that Real will continue to write history by winning the 10th Champions League title in this period."
Florentino Pérez, Real Madrid's newly elected President, said international football needs strong partners like bwin. "I am looking forward to continuing and intensifying our successful partnership with bwin."
Real Madrid hit the headlines earlier this year by breaking the world record twice to capture AC Milan's Kaka for approximately £56 million as well as Manchester United's Cristiano Ronaldo for an estimated £80 million. Both players have been voted FIFA World Player of the Year in recent seasons.
Football is the main corner-stone in bwin's three-pillar sponsorship strategy. The company's commitment in the MotoGP World Championship, where it has been a fixture for many years as title sponsor in several races, forms the company's second pillar, while the third pillar in bwin's sponsorship portfolio is basketball.
Shares in bwin Interactive Entertainment AG (Co. Profile) (BWIN.VI) are currently trading at €31.20 in Vienna this morning following the announcement.