Abu Dhabi's IPIC Reportedly Secures Naming Rights To Santiago Bernabéu

Abu Dhabi’s Int'l Petroleum Investment Company reportedly purchased the naming rights to Real Madrid’s Santiago Bernabéu, according to SOCCEREX. The deal is part of a multi-million euro revamp of the Spanish club's 81,000-capacity stadium, which "will be funded by selling the venue’s naming rights to the club’s long-term sponsor." Plans to "upgrade the iconic stadium were given the green light on Wednesday by Madrid’s city hall, and will see the installation of a retractable roof, along with the construction of a shopping centre and hotel." Real Madrid also agreed to a new partnership with Chinese dairy producer Yili, "which will see the company become the club’s official milk partner." The two parties will run a Real Madrid training camp in China with the "aim of developing and promoting the sport in the country" (SOCCEREX, 6/1).