Magazine article Marketing

F1 Risks Losing Support from Financial Sector

Magazine article Marketing

F1 Risks Losing Support from Financial Sector

Article excerpt

Sunday's climax to the 2008 Formula One season was about as good as it gets.

Now Lewis Hamilton has been crowned world champion, fans can look forward to watching rivalries develop between the driver and his contemporaries as they race around ever-more spectacular circuits.

However, as the dust settles on a season that was also tainted by racist abuse of Hamilton and a sex scandal involving FIA boss Max Mosely, serious questions linger over the sport's future.

When tobacco brands were finally phased out of Formula One, finance brands were quick to fill the void. RBS, ING, Abbey and Credit Suisse joined the ranks of sponsors.

However, while brands such as Reebok are keen to associate with the sport, the future of RBS' involvement with the AT&T Williams F1 team could hang in the balance. According to sources within F1, the bank is considering pulling out of its sponsorship next year; RBS has even raised the possibility of an early termination of the deal, which affords the brand corporate hospitality opportunities, race tickets, access to drivers for promotions and branding opportunities. …

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