Bwin will sponsor Real Madrid

Spanish Real Madrid will sign a EUR 75 million contract with Austrian Internet gambling firm, Betandwin.

"Bwin" is one of several companies Real Madrid was negotiating with but President Ramon Calderon would not name other potential sponsors saying that the "agreement would be unimaginable for any other club."

Real Madrid's rivals Spanish Barcelona turned down a prospective deal with Bwin because the club's members did not like dealing with a gambling company, according to La Gaceta De Los Negocios.

Other firms rumoured to be vying as sponsor of the club are German energy giant E.On and Spanish firm Endesa.

Former sponsors of Real, such as dairy firm, Parmalat, and car distributor, Otaysa, did not do well financially in the deals. Electronic giant, Siemens, was forced to sell its mobile phone division to BenQ, which then went bankrupt.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.