July 21, 2016 / 5:05 PM / 3 years ago

Soccer-Banco Santander becomes La Liga's main sponsor

MADRID, July 21 (Reuters) - Banco Santander will be title sponsors of La Liga for the next three years, the Spanish Football League (LFP) announced on Thursday.

The LFP’s previous deal with Banco Bilbao Vizcaya Argentaria (BBVA), which lasted a decade, came to an end last season.

The agreement with the new sponsors also includes an option for a further year. The league will now be known as ‘La Liga Santander’.

The LFP did not disclose financial details but media reports said the Spanish bank paid 60 million euros ($66.04 million).

“Banco Santander has what we were looking for, a company that will help us in what we were lacking towards becoming global,” said the league.

Santander’s sponsorship deal also includes the Spanish second division.

The bank already backs the Ferrari Formula One team and sponsors the Copa Libertadores in South America.

Santander general director Rami Aboukahir described La Liga as the “best league in the world” and said his organisation shared the common values of “passion, effort, talent and team work” with football.

$1 = 0.9085 euros Reporting by Adriana Garcia; Editing by Tony Jimenez

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