Madrid set to build sports academy in Saudi Arabia

Madrid set to build sports academy in Saudi Arabia

Published Feb. 8, 2011 9:36 a.m. ET

Real Madrid has reached an agreement with Saudi Arabia's Prince Salman Foundation to build a sports academy in the Middle Eastern country.

Madrid president Florentino Perez - who also heads Spanish construction giant ACS - says the academy will help serve 300 children and establish a relationship with the country.

Arsenal and Inter Milan already have sports academies in the Middle East.

Madrid is one of soccer's richest clubs and says its has 68 academies in 32 countries.

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