Renault’s new title backer has penned a deal to also sponsor the first race of the 2007 grand prix season.
The multi million dollar deal will see the race at Melbourne’s Albert Park next March renamed the ‘Formula One ING Australian Grand Prix’, following the Dutch financial giant’s three-year agreement to similarly rename the championship-winning Renault team in 2007 and beyond.
A spokeswoman for the race organisers, Emma Tierney, confirmed upon request that the naming rights contract is for three years.
“We are proud to be aligned with such a highly regarded company,” said Australian Grand Prix Corporation chairman Ron Walker.
Sources suggested that ING’s sponsorship is more lucrative than the former arrangements with Foster’s and Qantas.
It was reported in April that beer brand Foster’s would also pull out of sponsoring the British grand prix at Silverstone next year.
GMMF1
DailyF1News.com
