Tuesday December 5, 2023

Leaked Docs Reveal Real Madrid and Saudi Talks

  • Leaked documents show that Real Madrid is in talks with a state-owned project in Saudi Arabia about a sponsorship deal.
  • The country previously attempted to invest in Newcastle through its sovereign wealth fund, but was blocked by human rights groups.
Photo: Real Madrid/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

The cat is out of the bag on Saudi Arabia’s talks with Real Madrid, and the question now turns to whether the unwanted attention will scuttle the deal.

The reigning La Liga champions have discussed a $182 million partnership that would make the Saudi state-owned Qiddiya project the lead sponsor of Real Madrid’s women’s team for a decade, according to leaked documents seen by The Times.

The deal would also require at least four players from the men’s first team to promote Qiddiya.

  • Qiddiya, which broke ground in 2019 on a massive construction project near Riyadh, is a sports, arts, and entertainment mega-complex slated to open in 2023. 
  • The project is part of Saudi Arabia’s 2030 Plan, which aims to diversify the revenue of the world’s second-biggest oil producer as global concern over climate change threatens its primary source of income.
  • The country’s $400 billion sovereign wealth fund has been pouring assets into U.S. markets, including a recent $3.3 billion worth of investments in major video game companies. 

The now-exposed talks are likely to stir controversy. Saudi Arabia’s sovereign wealth fund withdrew its bid to acquire Newcastle United of England’s Premier League last summer after human rights groups objected to the country’s potential involvement.

Neither Saudi Arabian officials nor Real Madrid have acknowledged the talks, perhaps hoping to stave off the attention that thwarted the country’s last attempt at investing in European soccer.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Real Madrid’s Borrowing Extends Financial Issues In Spanish Soccer

La Liga giants turn to private markets to fund stadium renovations

Barca Financial Troubles Grow With Mounting Debt Concerns

Club officials face scrutiny as total debt load approaches $3 billion
Portugal forward Cristiano Ronaldo moves the ball against Uruguay during the second half of the group stage match in the 2022 World Cup at Lusail Stadium.

The 10 Highest-Paid Soccer Players in the World for 2023

The top 10 players in the world are cumulatively making $961 million.
Charles Oliveira (red gloves) and Islam Makhachev (blue gloves) during UFC 280.

Saudi Sports Profile Grows Further With First-Ever UFC Event

MMA property set to bring event to country in March
podcast thumbnail mobile
Front Office Sports Today

Premier League Sets New Bar with Media Deals

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Wasserman
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
A view of a 1914 Baeb Ruth rookie card in a protective casing from the Sportscard Guaranty Company.

Babe Ruth Rookie Card Sets Player Record at $7.2M

It’s the most expensive piece of Babe Ruth memorabilia ever sold.
November 14, 2023

German Soccer Pushing $1.1B Rights Deal To Private Equity Investors

Governing body mounting third attempt for outside investment
PFL Bellator
November 20, 2023

PFL Completes Acquisition of Bellator, Readies to Challenge UFC

“Today, the MMA market changed,” PFL Founder Donn Davis said.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
CAA logo on side on building
November 13, 2023

CAA Forms Sports-Focused Investment Bank In Continued Expansion Push

Powerhouse agency looks to further expand dealmaking capabilities
Mercedes-AMG Petronas driver George Russell drives on the track during the Formula One Las Vegas Grand Prix Launch Party at Las Vegas Strip.
November 10, 2023

Ticket, Hotel Prices Plummet As Las Vegas GP Nears

Lack of competitive drama for F1 event fuels market crash
November 9, 2023

McMahon Selling $713M In TKO Stock, CEO Emanuel Could Be A Buyer

Bombshell announcement to bring big changes to company's ownership structure
San Diego Padres shortstop Xander Bogaerts wears the ALS Lou Gehrig Day and Motorola patches during a game against the Chicago Cubs at Petco Park.
November 8, 2023

Major U.S. Sports Leagues Pull In Record $6.7B in Ad Revenue

Major U.S. sports leagues and teams saw big increases in ad revenues.