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FINANCIAL NEWS
Emirates Airline to sponsor 15 F1 races annually
05 Feb 2013
(MENAFN) Emirates Airline’s chairman, Sheikh Ahmed, stated that the carrier has inked a USD200-million partnership agreement with Formula One to sponsor a total of 15 races a year, reported Arabian Business.
The deal will allow the Dubai-based carrier, which paid USD180 million in 2004 for the naming rights to Premiership side of Arsenal’s stadium, to join big names that officially sponsor the F1, such as UBS, Rolex, Tata and LG.
The deal is for 5 years, however, it excludes races that already have airline sponsors, including the Abu Dhabi Grand Prix.
Under the terms of the F1 agreement, Emirates’ sponsorship will start with Malaysia’s race during the current year.
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