Q. What was the main driving force behind this deal with Real Madrid?
A. “This agreement is in line with the directions and strategy of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi; His Highness Sheikh Mohamed bin Rashed Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai; and His Highness General Sheikh Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in promoting the UAE and Abu Dhabi, globally. We are proud to join forces with Real Madrid, the world’s top football club and sporting brand. This long term agreement is designed to provide the commercial means, not just to build the world’s greatest sports facility, but also to spread Real Madrid’s heritage and football ethos around the globe. IPIC, as a company with expansive global investments including Cepsa, Spain’s fourth largest company by turnover, is the perfect vehicle for such a relationship.”
Q. What are the main parts to this agreement?
A. “The commercial arrangements empower Real Madrid to build an unparalleled, state of the art sporting venue for the city of Madrid and Madridistas. The grassroots rights, immediately actionable, enable the parties to globalise Real Madrid’s assets – its heritage through the museum and its footballing ethos through its schools – utilising the synergies within IPIC’s global group of companies. The agreement is designed to inspire and empower young people around the world by bringing the ‘Real Madrid Museum, Empowered by IPIC’ to their cities, and to develop exciting new ‘Real Madrid School of Football, Empowered by IPIC’ training and instructional material for coaches and children to improve their footballing skills. IPIC also becomes the licensee for the Real Madrid Schools of Football in the UAE and other territories to be agreed. The branding, advertising, digital, promotional, image, hospitality, and additional rights are in keeping with an agreement of this scale, time frame, and stature. In addition, IPIC and Real Madrid will develop unique content for digital media platforms.
Q. How does this investment sit with IPIC’s other sporting commitments?
A. “IPIC’s motto is ‘Empowering Our Future’. As a Government entity and under the Chairmanship of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, IPIC believes it has a moral obligation to contribute to the future welfare of the community and encourage youth at a grassroots level to engage in sport, both in the UAE and internationally. IPIC has a strong history of strategic partnerships with a number of sporting federations, clubs, and sports providers. For example: the UAE Jiu Jitsu Federation; the Wresting, Judo, and Kickboxing Federation; Meydan and the Dubai World Cup, the UAE Women’s Football Committee, and other football entities both in the UAE and internationally. ”
Q. How important is sport to the development of a country?
A. In any country, particularly at the community level, sport is an inherent component of a healthy society. Real Madrid is the world’s most successful football club and top sporting brand, as a result of its history, pedigree, and continued success. Hence why IPIC and Real Madrid have formed a partnership to bring the ‘Real Madrid Museum, Empowered By IPIC’ to cities around of the world, and to develop coaching and instructional material for the ‘Real Madrid Schools of Football’. The museum is inspirational and people are inspired by success. The schools of football are an instrumental means to achieve success. Through providing state of the art material and support to the coaches and children who participate in these schools, we aim to help them become more successful. At an Abu Dhabi level, His Highness Sheikh Mohamed bin Zayed al Nahyan; His Highness Sheikh Hazaa bin Zayed al Nahyan, National Security Adviser and Vice Chairman of the Executive Council of Abu Dhabi; and, His Highness Sheikh Mansour bin Zayed Al Nahyan, are all strong and active supporters of sport. A partnership with a prestigious organization such as Real Madrid is bound to help raise awareness of the benefits of sport with the population of the UAE.”
Q. What is the role of IPIC’s affiliated Companies in this agreement?
A. “Cepsa, with a heritage, and tradition equal to Real Madrid, is Spain’s fourth largest company in terms of turnover. It has operations in Southern Europe, North Africa, North and South America, South East Asia, and China. Nova Chemicals has extensive operations in North America. Hence, both companies are perfect vehicles to drive the grassroots elements of this relationship forward.” Q. What is IPIC? A. “Established by Emiri decree in 1984, IPIC is a long-term investor in overseas energy and energy-related assets. It undertakes strategic projects on behalf of its shareholder the Government of the Emirate of Abu Dhabi. The company is engaged in all parts of the Hydrocarbon Value Chain - exploration and production, refining and marketing; the transport and sale of crude oil derivatives; petrochemicals; and gas and electricity.”
Q. Why is this relevant to society?
A. “To understand the relevance and importance of what IPIC’s group of companies provide, just imagine a world without the products of the Hydrocarbon Value Chain. We are not just talking about fuel for transportation and power for lighting and heating our homes. The end products of the Hydrocarbon Value Chain include everything from casings for mobile phones and electrical appliances, packaging for everyday household necessities, interior fittings for cars, the materials and fabric for sports shoes and sports equipment, as well as irrigation systems for sports fields, etc., to name but a few.”