Real Madrid has signed a five-year sponsorship deal with Dubai-based airline Emirates.

Emirates senior vice president Salem Obaidalla tells The Associated Press that the deal is worth ''almost ?5 million'' per year and instals the airline as an official partner, but does not include shirt sponsorship.

The deal does not affect Real's current shirt sponsorship deal with Austrian gambling operator bwin, which pays the club around ?23 million per year and has a contract until 2013.

Real Madrid president Florentino Perez announced the Emirates tie-up at a press conference at the Santiago Bernabeu stadium Friday.

Most of Real's first-team squad attended, including captain Iker Casillas, forward Cristiano Ronaldo and new ?30 million signing Fabio Coentrao.