NOVEMBER 11, 2002
Jordan loses Deutsche Post
Jordan's largest sponsor, Deutsche Post World Net has pulled the plug on it's involvement with the team. The company has used the deal to promote its Danzas and, more recently, DHL brands with the deal, thought to be worth in the region of $15m.
Deutsche Post was offered the title sponsorship with the team after Benson and Hedges reduced their sponsorship of the team significantly prior to last season. The Deutsche Post announcement was not new news to Eddie Jordan, however. "We have known about Deutsche Post World Net's decision on a strictly confidential basis for some time and therefore, as you would expect, we are in negotiations with new sponsors."
The team is expected to announce their new sponsors at the launch of the Ford-powered EJ13 in early 2003. Deutsche Post is the third German company to announce its departure from Formula One in a week. Deutsche Telekom ended its McLaren sponsorship because of the poor economy and Veltins's deal with Williams came to an end and was not renewed.
|Print News Story|