Formula 1’s continued growth took another step forward earlier today when Vodafone announced the continuation of the sponsorship agreement with McLaren.
The sport had seen a period of time where major car manufactures’ and sponsors withdrew their support from Formula 1 due to the constraints of the economy. Recent moves made by Bernie Ecclestone though have assisted in showing the potential of Formula 1 to act as a true global advertising campaign for sponsors.
The news of recent months was that Formula 1 would continue to spread into new markets. With new races in India, America and Russia set to be added to the calendar in the next few years the potential is still clear to see for the world’s major blue chip companies.
It is quite telling that this announcement came during preparations for the Korean Grand Prix. The move into the Far-Eastern nation, combined with the new races planned, gives companies with a global reach a footmark in all of the major economic growth areas of the world. Of the 15 nations with the highest GDP only France is not actively involved in Formula 1.
In its past sponsorship deals with Ferrari and McLaren Vodafone has always been keen to promote the brand of Formula 1 in combination with its products. This deal, which also features agreements to handle all McLaren communications during races, is another move by the telecommunications giant to gain greater integration within the team and the sport.