Real Madrid: IPIC, UAE investment company, becomes partner, should get stadium naming rights

IPIC (International Petroleum Investment Company), a UAE investment fund 100% owned by the emirate of Abu Dhabi (UAE) and managed by members of the royal family, officially became a partner of Real Madrid CF (Liga BBVA), announced the club on 28/10/2014.

"This alliance will help us to be better and to carrying out a series of decisive projects for the future of the club," announced Florentino Perez, president of Real Madrid. "This is the beginning of a long journey, and the beginning of a powerful alliance that can be key to carry out one of our major challenges: to turn the Santiago Bernabéu into the best stadium of the world." The contract concerns the naming rights to the Santiago Bernabeu Stadium (capacity 85,000). This agreement would allow Real Madrid to finance the renovation of the stadium. The club presented an estimated €400m project on 31/01/2014. The naming contract could become official when the renovation work begins.

A naming contract valued at €450m over 20 years

• The contract is valued between €450m and €500m over 20 years, €22.5-25m annually, according to Spanish…