OCTOBER 16, 2006
Renault confirms ING
As we exclusively predicted, the Renault F1 team has announced a major sponsorship deal with the Dutch financial group ING. The deal is for three years. ING hopes to use its sponsorship to build up brand awareness in growth markets. Financial details of the agreement were not disclosed. In addition to teaming up with Renault ING has also finalised an agreement with Allsport Management for on-track sponsoring at several Formula 1 Grand Prix races in key ING markets in 2007.
ING is a global financial institution which offers banking, insurance and asset management to over 60m private, corporate and institutional clients in more than 50 countries. Financial details of the agreement were not disclosed but ING says that it chose Formula 1 because of its "virtual year-round global exposure" and a "strong global platform to further strengthen its premium international brand".
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