Real Madrid have asked sponsor ADIDAS to double up to 60 million euros the amount it pays the club annually, in view of their signing of a host of new stars.
Real’s new president Florentino Perez is seeking the renegotiation of its contract with the German Sporting goods Giant, which runs until 2012.
It said a refusal by ADIDAS, which produces and sells the club’s shirts could push Real to take its business to the company’s rival US based NIKE.
Besides ADIDAS, Real has several other sponsors, including Coca-Cola, Audi, Bwin, and Telefonica, which altogether pay them some 130 million euros a year, around one third of the club’s revenues of 400 million.
In the past month, Real has shelled out more than 200 million euros for top stars Christiano Ronaldo, Ricardo kaka, Raul Albiol, and Karim Benzema.
Perez wants to up the club’s turnover to 500 million, partly so he can cover the huge salaries of 10 million a year promised to Ronaldo and Kaka and to pay for more signings.
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