Madrid reaches deal with Kurds to open academies

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MADRID (AP) -- Spanish club Real Madrid has reached a deal with the Kurdish regional government in Iraq to build four football academies there.

Madrid did not provide a timeframe for the construction project but says the four academies will be built in the near future.

The KRG says in a statement that the academies will be located in Irbil, Sulaimaniyah, Dahuk and Kalar with "the task to train athletes in the region." Approximately 100 athletes will be accepted into each academy.

Madrid was recently named the world's richest club for the seventh straight year, with revenues of €480 million ($627 million).

The club's foundation is involved in projects that include the building of football academies across the world.