Having gone on a £200m spending spree this summer, news that Real’s shirt sponsorship deal with Austrian online betting group Bwin has been extended by three years (until 2013) will come as some relief to the club’s accountants and creditors. At least one line of income has been secured. The deal could be worth up to 20m euros ($29.1m; £18.3m) a year from the renegotiated agreement.
Having gone on a £200m spending spree this summer, news that Real’s shirt sponsorship deal with Austrian online betting group Bwin has been extended by three years (until 2013) will come as some relief to the club’s accountants and creditors. At least one line of income has been secured. The deal could be worth up to 20m euros ($29.1m; £18.3m) a year from the renegotiated agreement. Real Madrid president Florentino Perez said Bwin was “a loyal partner which understands sport”, a slight dig perhaps at previous sponsor BenQ, the German handset business of Taiwan’s BenQ Corp, which went bust.
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