Magazine article Marketing

Formula 1

Magazine article Marketing

Formula 1

Article excerpt

Although you may struggle to sight a UK sponsor during Formula 1, it is the huge global reach of the race which places it alongside the World Cup and Olympics, with 450 million viewers.

According to Barrie Gill, chairman and chief executive of sports marketing consultancy CSS International, it costs a minimum of [pounds]3m to be a sponsor of the event.

National sponsorship opportunities are limited. There is Texaco's [pounds]12m deal to sponsor ITV's coverage and the RAC is official sponsor of the UK Grand Prix.

Tobacco manufacturers Marlboro, Rothmans, Benson & Hedges and Mild Seven, which each sponsor a team, enjoy access to an event otherwise denied to them with the World Cup and the Olympics. French, German and UK races are the only events where they cannot use their names.

ITV's estimated [pounds]60m deal to broadcast Formula 1 is paying off, with ITV pulling in better audiences for the Australian Grand Prix than BBC2.

Despite initial scepticism that ITV's coverage would be marred by commercial breaks, it appears that ITV has built its audience throughout transmission. …

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