Banco Santander has renewed title sponsorship deals of the top two Spanish leagues for a further two years, with the option to extend for a further year until 2023-24. The deal continues a relationship between the two parties that began in 2016. This partnership will see Santander continue to name the two competitions LaLiga Santander and LaLiga Smart Bank.
This deal is reportedly worth €20m per season on a fixed basis. This equates to a similar fee as the brand is paying under the current deal, a one-year contract extension that was signed in March 2019. The previous contract was going to expire at the end of the 2020/21 season.
The current deal is thought to include a basic fixed fee and some variable fees related to the bank’s use of certain assets, such as appearances by LaLiga legends for Promotion. Javier Tebas, president of LaLiga, said the agreement with the bank was “fundamental” for the organisation.
“At this time, being able to continue counting on our main sponsor, Banco Santander, is the affirmation that we are on the right path. Banco Santander is a leading company in its sector that has decided to choose LaLiga as its main partner in the world of sport.”
Santander had replaced long-term partners BBVA. The banking group had been a LaLiga partner since the 2006-07 season until the end of the 2015-16 campaign. BBVA paid €26m per season to LaLiga, but the Santander deal is worth less than the previous deal.
Santander yet to renew deal with UEFA
Santander also signed a three-year deal with UEFA in 2018 to become an official sponsor of the UEFA Champions League. The deal is set to conclude in 2021. Santander is yet to renew the sponsorship deal with UEFA Champions League.
Santander made a switch from Formula 1 to Champions league at the end of 2017 after their sponsorship of the Formula1 racing team, Scuderia Ferrari, concluded after eight seasons. The bank will also conclude corporate sponsorship agreements with F1 after 11 years.