Real Madrid are yet to remove Russian sponsor amid ongoing Ukraine crisis

Real Madrid remain sponsored by a Russian company amid the ongoing war in Ukraine.

Russia are continuing their attempted invasion of Ukraine, launching brutal and unprovoked attacks on many parts of the country.

The war has been condemned by governments, countries, the European Union and even FIFA and UEFA.

Huge financial sanctions have been placed upon Russia in a bid to punish and slow their efforts as they advance on the Ukrainian capital of Kyiv.

And the sports world is also doing its part, with Russian teams banned from UEFA competitions, while FIFA have kicked Russia out of the World Cup qualifiers.

We have also seen UEFA drop its large Russian sponsor Gazprom, and Schalke have also dropped Gazprom.

Manchester United have dropped its Russian sponsor also, but Real Madrid are yet to follow suit.

Los Blancos are backed by Fonbet, with a ‘long-term agreement’ for all of ‘the Russian CIS territories’.

Fonbet have more than 1000 offices in Russia, and their ownership is a very murky matter, with few clear answers.

OCCRP suggest the ownership lies somewhere between Alexander Burtakov and Alexey Khobot, but the company remains Russia’s biggest betting company to this day.

Real Madrid are yet to rid themselves of the sponsor, as many other clubs have done across Europe, with the sponsor still listed as a partner on the club website.

Meanwhile, Barcelona have a formerly Russian-based sponsor in 1xBet, though it is important to note that the company no longer has a licence to operate in Russia.

Its three reported owners have since moved to Cyprus, and one of their alleged owners, Sergey Karshkov, has written an open letter on Twitter hoping for peace between Russia and Ukraine with his son now part of the Russian army.

Meanwhile, a key player in 1xBet, Eugene Baranov, openly criticises the Russian government for its ‘depression’ on his LinkedIn profile.

Tags Fonbet Real Madrid Russia Ukraine
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