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Coca-Cola confirm entry into Formula One

SOFT DRINKS giant Coca-Cola has confirmed that it is to enter Formula One for the first time next season as a major sponsor.

Sources close to the global company and close to the commercial nerve-center of the sport have confirmed that a deal has been agreed.

One source said: "A deal has been done, definitely, but there is nothing much else to be said yet."

The identity of the team, or teams, which could benefit from support from Coca-Cola has not yet been confirmed.

Formula One returns to the United States next month for the first American Grand Prix, to be held at Indianapolis, since Phoenix was the venue in 1991.

The banning of all tobacco sponsorship and advertising in Formula One, due to take place in 2006, has already stimulated a search for replacement sponsors.

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