Top-flight Spanish soccer side Real Sociedad have confirmed that Basque telecoms company Euskaltel will be their main sponsor until the end of the season after they terminated their contract with Chinese mobile and internet company Qbao.com.
Qbao had been the La Liga outfit’s main sponsor since the 2014/15 season, and its contract was reportedly due to run until 2020. However, Sociedad opted to end the arrangement prematurely because Qbao is under major scrutiny in its home country and is facing financial difficulties.
‘Given the circumstances that emerged this last month around the situation of Qbao.com, it will not be able to meet the obligations contemplated in the sponsorship contract,’ Sociedad said in a statement. ‘Consequently, Real Sociedad has decided to terminate the contractual relationship and therefore the sponsorship agreement is extinguished.’
After that announcement, the two-time Spanish champions quickly moved to upgrade their existing partnership with Euskaltel, which will have its logo adorn the front of the team’s playing shirts for the remainder of the 2017/18 campaign, when Sociedad will seek a new main partner.
The agreement is also part of an expanded three-year extension of the contract between the two parties, which will see Euskaltel become the main sponsor of Sociedad’s women’s team through to 2021. Euskaltel already serves as the technological partner of the club.
Jokin Aperribay, president of Real Sociedad, said he was pleased with the agreement “between two organisations which share their commitment with Gipuzkoa and with the social and economic development of the region and its people”.
Real Sociedad will wear Euskaltel-branded shirts for the first time on Friday when they host struggling Deportivo de La Coruña.