Spanish club Real Madrid has agreed a deal to sell its TV rights for €800 million over seven-years said club president Ramon Calderon. The club didn't disclose the buyer, saying it would give details in the next few days. Last week it was reported that Madrid's regional government — through its free-to-air network Telemadrid — and bank Caja Madrid lodged a €600 million bid to broadcast Real Madrid games for five seasons from 2009 to 2013. Sogecable pays €55 million a year under Real Madrid's present deal, showing the matches on its digital platform Digital Plus. According to Sport Business (UK) this deal runs until 2008, but Sogecable has the option to extend it for a further year by paying €60 million. "It’s the most important contract in the history of world sport", Calderon said dramatically.