👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

UPDATE 1-Motor racing-Heineken and F1 announce multi-year deal

Published 2016-06-09, 02:30 p/m
© Reuters.  UPDATE 1-Motor racing-Heineken and F1 announce multi-year deal

By Ian Gordon
MONTREAL, June 9 (Reuters) - Heineken and Formula One
announced a multi-year global partnership on Thursday that the
Dutch brewer said would rank alongside its long-standing
sponsorship of European soccer's Champions League.
No financial details were given for the deal, which was
announced at the Canadian Grand Prix and starts in September
with title sponsorship of the Italian Grand Prix at Monza.
"F1 is going to be one of our biggest ever partnerships. The
world is going to notice that we are in F1," Gianluca Di Tondo,
Senior Director, Global Heineken Brand, told Reuters.
Heineken will be Formula One's official beer partner. From
2017, the brand will be title sponsor of three grands prix with
significant signage at six others. The branding will not be on
any cars.
Thursday's announcement comes after Red Bull's Max
Verstappen last month became, at 18, the youngest Formula One
race winner and first Dutch driver to top the podium.
Di Tondo said discussions between the world's third largest
brewer and Bernie Ecclestone's Formula One Management had been
ongoing for some time.
"It is the right moment to do this partnership. We expect it
to be a long-term one," he said.
"We estimate Formula One can give us the extra 200 million
people on top of the other global consumers we have and F1 is
looking for spectators to turn into F1 fans. Together we can
both reach our goal.
"Champions League football and Formula One are going to be
our yearly platforms."
Heineken's sponsorship of European soccer's premier club
competition runs to 2018 and is worth in excess of $70 million a
year, according to sports marketing research group IMR.

KEEP MONZA
Although the Formula One partnership starts in Italy, Monza
has yet to agree a contract with Ecclestone beyond 2016.
Di Tondo said Heineken would not be involved in those
discussions but, as an Italian, he would "do everything I can to
push Bernie into keeping the Italian GP."
Di Tondo mentioned Monaco, Formula One's showcase race, as
well as China and Mexico as races in strategic markets. Heineken
is the top-selling lager in Europe and the world's leading
international export brand.
The brewer has sold beer in Africa for decades, while
acquisitions in the past six years have seen it add Mexico and
Brazil and greater access to Vietnam and southeast Asia.
Di Tondo said Heineken would also develop significantly the
use of social media.
"We know how to reach people. Our twitter programme for the
Champions League this year reached 2.5 billion people."
The partnership will also promote a 'responsibility' message
and Heineken's "If You Drive, Never Drink" campaign.

(Editing by Alan Baldwin)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.