Real Madrid renew technology partnership with Telefónica
The new arrangement re-unites the club with the telecommunications giant after the pair’s former deal ended in June last year. That more traditional partnership was worth €15 million (US$16.8 million) and began in March 2017. Whilst no figures have been released for the new deal it is reported to exceed the former in value.
Telefónica will now work to install technology solutions across various Real Madrid facilities and infrastructure over the next four years, including the €500 million (US$560 million) redevelopment of the club’s Santiago Bernabéu home stadium.
Work is underway on the project, which includes a retractable roof, a 360-degree video scoreboard and surrounding steel bands which allow images to be illuminated and projected on the exterior surface of the stadium.
The development sees another change in strategy from Telefónica which ended its former deal to focus on secure Spanish broadcast rights for the UEFA Champions League, Europa League and LaLiga. It also severed its partnerships with Madrid’s arch-rivals Barcelona and the Spanish national team.
Emilio Gayo, Chief Executive of Telefónica Spain, said of the deal: “We have started on a very exciting path for the coming years, with two large companies that are going to work together to confront and take advantage of the opportunities that the technological change we are experiencing offers us.”
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