McLaren's Vodafone title sponsorship at risk


McLaren
2 July 2012 by Ryan Wood | M
          

McLaren's title sponsorship with the world's second-largest mobile telecommunications company, Vodafone, may be at threat after the company revealed it is to review its 'global sports and events sponsorship'.

The company has been the team's title sponsor since 2007 at a cost of tens of millions, but it's believed they may downscale their involvement when their current contract expires at the end of the 2013 season.

The Financial Times quotes a person close to the company saying the deal must be 're-evaluated during these tough economical times'.

it added: "The race is still one of a few major events to be popular with a global audience, which means that a sponsorship can work on a number of levels in different regions and is therefore attractive for brands such as Vodafone wanting to extend their global reach.

"However, the general sponsorship market has been affected by the global economic downturn, with some banking groups more reluctant to be seen spending money on events."

LATEST 0 NEWS

RED BULL

Red Bull won't help Ricciardo with team orders

F1 NEWS

F1 set for team radio clampdown in 2015

FERRARI

Fiat boss criticises Di Montezemolo's comments

sauber

Billionaire Stroll looking to buy Sauber F1 Team

F1 NEWS

Wolff calls on F1 fans to stop booing drivers

caterham

Albers resigns as Caterham team principal