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UBS reducing F1 sponsorship in new agreement

  • Published on 01 Sep 2014 15:19
  • comments 0
  • By: Rob Veenstra
Major F1 sponsor UBS is scaling down its investment in the sport. The Swiss based global financial services company entered F1 in 2010 powered by its then chief executive Oswald Grubel. But UBS is now headed by Sergio Ermotti, a Swiss banker, who last year commenced market research into the wisdom of Grubel's F1 deal.

The Swiss newspaper Blick on Monday quoted a UBS spokesman as saying: "We have always stressed that formula one is a long-term commitment. "We are very pleased with the partnership." The report said UBS has agreed a new, less lucrative contract with Bernie Ecclestone. "We put the customer platform more in the centre and focus the brand on key growth markets," the spokesman said.

Part of the reduction of the deal is trackside advertising at less grands prix, and the end of the title sponsorship of the Chinese grand prix. The report said UBS is reducing its annual spend from about $54 million to $32 million. (GMM)

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29 - Oct 31
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Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28
16 - Apr 18
7 - May 9
21 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
11 - Jun 13
25 - Jun 27
France Paul Ricard
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
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Russian Sochi Autodrom
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22 - Oct 24
United States of America Circuit of the Americas
29 - Oct 31
5 - Nov 7
Brazil Interlagos
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Australia Albert Park
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