The Football Association of Singapore on Monday signed a Memorandum of Understanding with Atletico Madrid, ahead of the Spanish Primera Liga outfit's clash against a Singapore Selection in Wednesday's Singapore Olympic Foundation-Peter Lim Charity Cup.

Through the open-ended agreement, the FAS hopes to tap on the newly-crowned Copa del Rey champions' resources in terms of youth development as well as attachments for local technical and administrative staff.

"This is good for the overall development of our local players," FAS president Zainudin Nordin said.

"Through this MOU, there will be opportunities for young footballers in Singapore to maybe have a chance to play professional matches in Spain."

Atletico are currently third in La Liga on 72 points, behind champions Barcelona (94) and Real Madrid (81). There are two games left to the season.