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The Spanish giants announced a new sponsorship deal with Emirates on Thursday and will now be looking to find a suitable sponsor for their stadium

Real Madrid is considering selling the naming rights to the Santiago Bernabeu as it looks for new ways to generate revenue.

The club announced on Thursday that Emirates will take Bwin's place as its new shirt sponsor from next season onwards.

The deal is believed to be worth 125 million euros for five campaigns, with club president Florentino Perez hailing the deal with the airline company.

"We want a strong Real Madrid and part of that comes through alliances with large companies. We are making this alliance with the world's most important airline and it is an alliance for the present and for the future," Perez said.

"Emirates become Real Madrid’s new main sponsor. Two global brands and two leading organizations. This is one of the club’s most important decisions. It is an honor to link the Emirates name to Real Madrid’s because they are a perfect partner and ally."

But los Blancos' thirst for financial investment will not stop there and the club is now searching for a suitable sponsor for the Santiago Bernabeu.

Clubs such as Bayern Munich (Allianz Arena), Borussia Dortmund (Signal Iduna Park), Arsenal (Emirates Stadium) and Manchester City (Etihad Stadium) have previously cashed in on the naming rights to their grounds and Madrid are pondering following in the footsteps of the aforementioned clubs.

However, the Liga giants are determined to make sure that the stadium's principal name will remain the Santiago Bernabeu because of its historical meaning for the fans.