F1 loses long-time podium champagne sponsor

JANUARY 14, 2016

F1 loses long-time podium champagne sponsor

Long-time podium champagne sponsor Mumm is leaving F1.

Owner Pernod Ricard is believed to pay EUR 5 million per year for the privilege of being sprayed on the podiums of the world, but the deal has been deemed "insufficient" by F1 management, according to thedrinksbusiness.com.

"In our mission to continually innovate, excite and push the boundaries, we have chosen to explore a new opportunity - Formula E, electric motor racing - as it is truly ground breaking, has a strong fit with our brand values and is a natural evolution in motor racing," Pernod Ricard confirmed.

It is believed Moet et Chandon will be F1's new champagne supplier.

(GMM)

Other stories for JANUARY 14, 2016

MCLAREN SIGNS VW'S CAPITO

VANDOORNE EYES F1 CHANCE FOR 2017

TEAMS 2016 TYRE CHOICES INTERESTING SAYS HEMBERY

BOTTAS USES FALSE NAME FOR RUNNING RACE

MASSA WANTS TO STAY IN F1 AFTER 2016

MERCEDES WILL BE HARD TO BEAT IN 2016 SAYS ECCLESTONE

ABITEBOUL FLIES TO VENEZUELA AMID MALDONADO REPORTS

BOTTAS STILL READY TO WIN IN 2016

GASLY EYES TORO ROSSO SEAT FOR 2017

SUTIL SUING SAUBER FOR $3.5 MILLION?

F1 LOSES LONG-TIME PODIUM CHAMPAGNE SPONSOR