Jan.27 (GMM) 2014 could be major F1 sponsor UBS’ last season in the sport.
We reported a year ago that the Swiss global financial services company, having entered F1 in 2010, is now considering pulling out.
It was reported that current chief executive Sergio Ermotti was studying the wisdom of the deal entered into by his predecessor Oswald Grubel, who also took Credit Suisse into F1, and was a former BMW-Sauber board member.
Now, Schweiz am Sonntag newspaper reports that the EUR 40 million per year UBS sponsorship looks set to end.
The report said that, officially, the decision will be taken shortly, “but this is only a formality”, as the exit has already been internally agreed.