Atletico Madrid are reportedly on the verge of agreeing to a new sponsorship deal with Riyadh Air, making the Saudi airline the La Liga club’s new front-of-shirt sponsor, according to Relevo.
Atletico’s previous shirt sponsor WhaleFin ended its five-year contract with the Spanish side sooner than expected, after initially agreeing to a €40m-a-year deal signed back in July 2022.
Whilst WhaleFin’s logo will still be adorned on the Atletico shirts for this upcoming 2023-24 season, Mundo Deportivo reported that the club is seeking a new shirt sponsor deal after the cryptocurrency firm Amber Group – parent company of WhaleFin – has undergone a period of financial trouble.
The outlet also noted that several airline companies have been touted as WhaleFin’s successor. Etihad Airlines and Turkish Airlines have reportedly held talks with Atletico, but it appears Riyadh Air is in pole position, according to Relevo.
The reported figures of a potential Atletico-Riyadh Air deal are larger than that of the Amber Group agreement, but the WhaleFin company may remain as a training kit sponsor for the Spanish club.
Riyadh Air, formed in March this year, is owned by the Saudi Public Investment Fund – owners of Newcastle United and a host of Saudi Pro League teams – and is a part of the Middle Eastern country’s 2030 vision to attract upwards of 100 million tourists by that year.
The Saudi airline is projected to add $20bn to the country’s overall GDP and aims to create 200,000 jobs in the process.
