According to Spanish daily newspaper Marca, the extension is worth €70m for each year of the agreement, earning Madrid an overall €280m.
The deal would become the most lucrative shirt sponsorship agreement ever seen in world soccer, dwarfing the annual €55m Madrid’s rivals Barcelona receive from Rakuten, along with Machester United’s £53m per annum partnership with Chevrolet.
Real Madrid are eighth in La Liga after a slow start to the new season.
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