Real Madrid and Emirates have agreed a new five-year sponsorship deal that will see the airline become the club's new shirt sponsor.

'Fly Emirates' will replace Bwin on all the club's playing and training kits until the end of the 2017-18 season along with several other advertising packages that have been included in the deal with the Spanish giants.

Club president Florentino Perez told reporters: "This key decision is significant for our team and it will allow us to continue competing at the highest level worldwide and face challenges with the determination to succeed as Real Madrid always does.

"Emirates is without a doubt a perfect partner for us, and a global airline operating to a broad network of destinations, bringing us closer to our fans on all continents."

Emirates have been partners with Madrid since 2011, when they were named the club's official airline.