sahara force india f1 team signs sponsorship deal with forex broker
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Sahara Force India F1 team signs sponsorship deal with forex broker

Arab Today, arab today

Arab Today, arab today Sahara Force India F1 team signs sponsorship deal with forex broker

Sergio Perez of Mexico and Sahara Force India at the Abu Dhabi
Abu Dhabi - Arab Today

The India-licensed Formula 1 racing team Sahara Force India has signed a sponsorship deal with the Cyprus-based forex broker FXTM for the new season.
FXTM becomes "Official Forex Partner" for the team, which caught the motorsport world’s attention when they finished fourth in the Constructors Championship in 2016, beating traditional heavyweights such as McLaren and Williams that operate with higher budgets.
While the value for the deal has not been revealed, generally speaking, the rear wing, sides of the air intake box and the sides of the car itself are prime logo positions, and a sponsorship deal with a top team involving any one of these locations is likely to cost about £15 million (Dh68.4m). At the lower end of the spectrum, small logos are often found along the lowest edge of the chassis, but even these are sold for around £1m with a high-ranking team.
Force India tackled the 2016 season campaign with a relatively modest €105m (Dh407.4m) budget, but managed to get Sergio Perez on the podium on two occasions to claim the constructors’ championship fourth slot with 173 points, at a cost of €607,000 per point, according to Grandprix247.com.
Despite the eyewatering figures, that was a good return on investment compared with others such as McLaren, the fourth-biggest spenders, with a budget of €217m committed to their campaign. It was a podium-less season for their two world champion drivers Fernando Alonso and Jenson Button, who together scored 76 points, at €2.9m per point.
Sahara Force India will be hoping to improve on last year’s efforts and the much-anticipated unveiling of the team’s new car for this campaign will take place tomorrow, February 22, at the UK’s Silverstone racetrack. The opening race of the season is on March 26 in Melbourne, Australia, with Abu Dhabi once again hosting the final race on November 26.
"The Sahara Force India team was a natural choice for us, they reflect the values and goals of our company, and there are some interesting synergies. Like us, they are young and dynamic, growing in size and stature and have their eyes firmly set on the top spot of the podium," said Olga Rybalkina, the chief executive of FXTM, which was formed in 2011.
F1 has undergone a huge change in the past few months with Liberty Media becoming the owner of Formula One racing, recently completing the transaction that represents an enterprise value for F1 of US$8 billion and an equity value of $4.4bn. There may be more changes ahead; Liberty last week signalled that it may put the brakes on the $100m annual prize money bonus received by Ferrari, the biggest name in the series.
Ferrari gets numerous financial and governance benefits including a guaranteed annual prize payment of around $100m before their cars even leave the pits, according to F1.com.
Liberty’s theory is that a more financially balanced field would improve the spectacle of F1, which in recent years has been dominated by one team – reigning champions Mercedes. In turn Liberty believes this would boost Ferrari’s sponsorship takings and outweigh any loss of its bonus.
This year heralds a new driving pairing for Sahara Force India, formed a decade ago, with Esteban Ocon replacing Nico Hulkenberg and joining the Mexican Sergio Perez, who has been with the team since 2014. Perez is understood to bring approximately €10m to €12m in sponsorship to Force India, according to James Allen, an F1 broadcaster who is also F1 correspondent for the Financial Times.
The team is based in Silverstone, United Kingdom, and was formed in October 2007 when a consortium led by the Indian businessman Vijay Mallya and Dutch businessman Michiel Mol bought the Spyker F1 team for €90m.

Source: The National

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sahara force india f1 team signs sponsorship deal with forex broker sahara force india f1 team signs sponsorship deal with forex broker

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sahara force india f1 team signs sponsorship deal with forex broker sahara force india f1 team signs sponsorship deal with forex broker

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday