Real Madrid has announced the renewal of its contract with Lionel Messi for another five years. The club is expected to pay the Argentine superstar around €625 million over the next four seasons.

In addition to this news, Real Madrid has also announced that they have signed a new long-term agreement with their sponsor, Coca-Cola, which will see the company's annual sponsorship revenue increase from €14 million to €100 million per year.

The signing of Messi and Coca-Cola comes as Real Madrid looks to continue their dominance in European football and secure their place as one of the biggest sports brands in the world.

With these two significant announcements, it appears that Real Madrid is poised for another successful season and beyond.