There is no secret that F1 has a global appeal and reach. That’s why LG Electronics decided to become a sponsor of F1 and perhaps it is time other companies do the same. In fact, they are.
UBS and Formula 1 today announced that they have signed an agreement for UBS to become a Global Partner of Formula 1. The partnership will be formally launched at the 2010 Formula 1 Singtel Singapore Grand Prix this year.
The deal has a more intimate flavor if you are a keen listener to www.formula1blog.com’s podcast series, F1B Downshift. We’ve chatted to Just Marketing International (JMI) and co-owner of United Autosports Zak Brown recently and it is his company that heledp broker the deal between F1 and UBS. Brown said:
“All of us at JMI are delighted that UBS has chosen Formula 1 as a global sponsorship platform,” said Zak Brown, Founder and CEO of JMI. “The partnership has strong alignment to UBS’s truly international stature and strategic business objectives, particularly in key growth markets.” He continued: “We are proud to add UBS to our cherished portfolio of clients and privileged to support another fine brand in its introduction to and ongoing presence in the sport.”
While working toward world domination in the arena of motorsport marketing, this remarkable man is also racing cars in the form of Audi R8’s for the GT3 series with his team United Autosports. I’m not sure where he find the time to be honest.
UBS, like LG Electronics, will be looking for a global presence and JMI is part of their initiative. Michael Willi, Chief Communication Officer, UBS AG, added:
“JMI has been a great partner in guiding us into the sport. We now draw on their proven expertise to support us in managing a key sponsorship and branding platform in the special environment of motorsports.”
As we discussed with JMI’s Zak Brown, the Middle East and AsiaPac are emerging markets that he sees a real increase in motorsport marketing opportunities and those happen to be the two areas of interest to UBS as well.
The agreement follows a comprehensive evaluation by UBS of the commercial benefits of all global sponsorship properties. Formula 1™ is a year round, highly visible, and popular sport with an especially strong presence in many of UBS’s key growth markets such as Asia, Middle East and Latin America. The long-term partnership will provide excellent branding and hospitality opportunities that fit with UBS’s global footprint and business strategy.
If we were hoping that F1 would not remove any more European races, this may be a significant warning to us all that AsiaPac is here to stay.
