Chinese betting firm cancels extension of Real Madrid sponsorship
21 January 2020
ManBetX, which also sponsors Wolverhampton and Crystal Palace, originally had a built-in automatic extension of its sponsorship deal with Real Madrid.
The company recently renewed its deal with La Liga, valued at €9 million a year.
The Chinese betting firm ManBetX has decided to cancel the automatic extension of its sponsorship deal with Real Madrid, according to the Spanish publication Palco23, after recently extending its deal with La Liga.
The betting firm's deal with Real Madrid, which nets the club €1 million a season, was signed in 2018 and will now expire at the end of the current season.
In Real Madrid's annual report for last season, the club's chairman, Florentino Perez, said the deal with ManBetX would run for four seasons.
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