FORMAL One group and the UAE airline Etihad Airways yesterday agreed a contract extension for the Abu Dhabi Grand Prix.
The airline's chief executive James Hogan and Bernie Ecclestone, CEO of Formula One group penned the multi-million dollar four-year deal, effective through to the 2015 event.
Etihad has been title sponsor for the event since the inaugural Abu Dhabi Formula 1 Grand Prix three years ago.
"This sponsorship extension goes against the current commercial trend of shorter sponsorship terms and demonstrates our long-term commitment to Formula One," said Hogan.
"The additional four-year term also allows us to strengthen our footprint with F1 and leverage our investment in their global platform more strategically. I am thrilled to build on the already excellent relationship with Formula One."
Ecclestone said the Abu Dhabi Grand Prix has been an immense success for the national airline, bringing the airline and destination to an estimate worldwide audience of more than 500 million F1 fans.
The influx of visitors travelling to Abu Dhabi also brings a direct economic benefit, with more than 20000 people pouring into the UAE for the event, the first twilight F1 race.
Lifeline for Abu Dhabi GP
FORMAL One group and the UAE airline Etihad Airways yesterday agreed a contract extension for the Abu Dhabi Grand Prix.
The airline's chief executive James Hogan and Bernie Ecclestone, CEO of Formula One group penned the multi-million dollar four-year deal, effective through to the 2015 event.
Etihad has been title sponsor for the event since the inaugural Abu Dhabi Formula 1 Grand Prix three years ago.
"This sponsorship extension goes against the current commercial trend of shorter sponsorship terms and demonstrates our long-term commitment to Formula One," said Hogan.
"The additional four-year term also allows us to strengthen our footprint with F1 and leverage our investment in their global platform more strategically. I am thrilled to build on the already excellent relationship with Formula One."
Ecclestone said the Abu Dhabi Grand Prix has been an immense success for the national airline, bringing the airline and destination to an estimate worldwide audience of more than 500 million F1 fans.
The influx of visitors travelling to Abu Dhabi also brings a direct economic benefit, with more than 20000 people pouring into the UAE for the event, the first twilight F1 race.
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