APRIL 24, 2000
Shell beats off contenders to stay with Ferrari
SHELL has outbid all its rivals to remain Ferrari's oil and lubricants partner until the end of the 2005 season.
SHELL has outbid all its rivals to remain Ferrari's oil and lubricants partner until the end of the 2005 season. The deals is believed to be worth around $25m a year. The deal includes technical support. Shell and Ferrari worked together in F1 between 1950 and 1973 but the Italian company then enjoyed a long and successful association with Agip. The Italian fuel company, which currently supports Benetton, has been trying to renew the association but Shell is keen to keep up the association as its tries to build the awareness of the partnership. Although the Shell logo is well-known around the world, the company believes that it can gain enormous benefits from being associated with the Ferrari Prancing Horse logo, one of the best known brands in the world.
The deal will include Ferrari endorsement for selected Shell products, a new series of television commercials linking the two and global forecourt promotions.