Ferrari sign Vodafone deal

THE Ferrari team has secured an important new three-year sponsorship deal with British telecommunications giant Vodafone, it was announced in Monaco on Friday.

The deal will allow the company's logos to appear on the sidepods, nose and front wing of Ferrari's Formula One challengers from the start of next year, and based on current sponsor inputs could be valued at around $15 million per year.

Ferrari's major sponsor Marlboro currently puts up a reported $65 million while team owner Fiat supplies $17 million and fuel company Shell pays $26 million.

Ferrari's announcement was made during a press conference in the grand Hotel de Paris in Monaco's Casino Square, attended by all the top heads of the Ferrari team.

President Luca di Montezemolo, sporting director Jean Todt, and the team's two drivers Michael Schumacher and Rubens Barrichello were all present along with Vodafone CEO Chris Gent.

Vodafone has also agreed a deal with Ferrari.net, which oversees all Internet activity for the Ferrari-Maserati group, to become the service provider.

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