NOVEMBER 6, 2001
Coca-Cola extends Nordic deal
Coca-Cola Europe Ltd. has extended its title sponsorship of the Nordic Racing Formula 3000 team for an additional two years.
There have been rumors for some time that Coca-Cola is considering adding sponsorship in Formula 1 to its programs but at the moment nothing has yet been decided although there are clearly moves being discussed with a number of F1 organizations. There have even been suggestions that the Atlanta-based soft drinks company will buy into a Formula 1 team and the current problems with Prost make this the obvious choice. It helps that Prost driver Tomas Enge has enjoyed Coca-Cola backing to date.
It is worth noting that Red Bull's success in recent years has had an effect on Coca-Cola sales and now that Red Bull is targeting the American market, it is logical that Coca-Cola would try to hit back at the Austrian firm by moving into areas where Red Bull is marketing strongly. Motor racing the obvious market in this respect.