Real Madrid Agree Image Rights Partnership

Spanish LaLiga leaders Real Madrid has reportedly reached a deal worth over $535m with US private private equity investment firm Providence Equity Partners for its global image rights.

Real Madrid President Florentino Perez is said to be strongly pushing for the deal in the build-up to Real Madrid Presidential elections this summer.

The emergence of the Providence partnership comes with Real having last month lost its crown as the financial powerhouse of world football. Manchester United dislodged Real as the top revenue-generating football club in the world for the first time in 11 seasons, according to Deloitte’s annual Money League rankings.

Financial services company Deloitte said that the English Premier League club posted revenue of €689m in the 2015-16 season, with Real dropping to third place behind LaLiga rival Barcelona with revenue of €620.1m.