OCTOBER 4, 2005
Honda and Vodafone?
The rumour in Formula 1 circles is that Honda is on the verge of signing a sponsorship deal with Vodafone for 2007. The British mobile operator has been sponsoring Ferrari since the start of 2002 and has enjoyed great success, averaging 20% of the on-screen time in the first year but it seems that the price being asked by Philip Morris, which owns the space on the Ferrari, is too high for Vodafone's taste and it is looking elsewhere for a new deal in 2007. The company has already announced its plans to be with Ferrari in 2006.
Vodafone is the world's largest mobile telecommunications company and has around 165 million customers producing sales of $43bn a year. It has a policy of high profile sponsorships with its backing of Britain's most famous horse race, the Epsom Derby, sponsorship of Manchester United and the England cricket team and Ferrari. It is believed to be paying something like $50m a year for the Ferrari in sponsorship deal.
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