Real seal multi-million Telefonica deal

Athletic Bilbao's Aritz Aduriz vies with Real Madrid's Sergio Ramos (right) during their Spanish league match at the San Mames stadium in Bilbao on March 18, 2017

Real Madrid signed a 15-million-euro ($16 million) sponsorship deal with Spanish telecommunications giant Telefonica on Thursday, the European champions said.

The two-year agreement will swell Real's coffers once more -- Deloitte's Football Money League 2017 puts the Champions League winners third only to Manchester United and then great rivals Barcelona for annual revenue.

"This deal looks to strengthen our ambitions for today and tomorrow. Millions of our club's fans will be connected with the day-to-day workings of the club and the players," said Real president Florentino Perez as the tie-up was unveiled at the Santiago Bernabeu.

Jose Maria Alvarez-Pallete, boss of Telefonica, added: "It is an honour for Telefonica to be the digital sponsor of Real Madrid."

The sponsorship deal, which will run to the end of the 2017-2018 season, is just the latest for Real, who also have partnerships with Abu Dhabi's IPIC (International Petroleum Investment Company) and have the airline Emirates on their shirts.