"It was a sporting decision," Real president Ramon Calderon told state television.
"Marketing is also important but the most important thing is the sporting factor and the technical team gave the green light to renew Beckham's deal," he added.
Beckham, 31, who joined Real from Manchester United in 2003, has extended his contract until 2009.
Real have failed to win a major trophy in Beckham's three seasons in Spain. New England coach Steve McClaren has left the midfielder out of his first international squads after the World Cup.
Beckham was meanwhile substituted by new coach Fabio Capello during the second half of Real Madrid's goalless opening-day game against Villarreal on Sunday.