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Real Madrid set to earn €70m from new sponsorship with HP

Published at :February 2, 2024 at 2:58 PM
Modified at :February 2, 2024 at 4:03 PM
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Rajarshi Shukla

Adidas has been Madrid’s primary sponsor over the years

According to Diario AS, Spanish powerhouse Real Madrid are about to unveil a new endorsement contract with IT major HP. The arrangement might be valued as much as €70 million ($75.7 million) per season.

The Spanish daily article says that Real Madrid will wear the HP emblem on their jersey as part of the sponsorship, which is anticipated to appear on one of the sleeves. They will then be positioned next to Fly Emirates, the club’s primary sponsor, who also has a major jersey marketing agreement.

On February 2nd, there is anticipated to be an announcement on the cooperation between the multinational corporation and Real Madrid. By doing this, HP will collaborate with one of the top teams in Spain, Real Madrid, as they aim to win the Liga and the UEFA Champions League.

On Thursday, the day of the transfer deadline, the team teased the news on social media with a little video, setting up an uproar among supporters about a potential addition to the playing roster. The post promised updates every day for the next twenty-four hours. On X, the former name for Twitter, the tweet had already received 9.4 million views in just four hours.

Real Madrid have already paid over $270 million for the sponsorship of just its jersey. That primarily depends on Adidas, the kit maker, who has an agreement worth €117.6 million ($127.2 million) annually through 2028.

In addition, Fly Emirates, who matches HP’s HPQ +0.8%HPQ +0.8% new sponsorship, is the primary shirt sponsor, contributing €70 million ($75.7 million) each season. Their current agreement is valid until 2026.

These sponsorships have given the Spanish club a significant cash boost, allowing them to reach an income of €831.4 million ($905.3 million) for 2022–2023, a 16% increase over the same figures from 2021–2022.

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