Formula One Announce UBS Sponsorship Deal
Formula One’s official governing body have announced a new partner today. Swiss based banking corporation UBS have announced they will be partnering the sport in attempts to increase their global brand awareness.
The multi-million pound deal is a big boost for the sport which had suffered as a result of the global economic crisis with major banks including ING and Credit Suisse distancing themselves from the sport. However with a major bank joining forces with F1, its a sure sign that better times are ahead for us. UBS join Santander in becoming a major force in F1.
UBS themselves are based mainly in Switzerland but have overseas investment and banking units in America and England.
Marketing managers within the firm evaluated various different major sporting events to use for their new brand exposure campaign and eventually found themselves settling on using Formula One as a platform for their increased exposure. Previous the bank have sponsored the Spengler Ice Hockey Cup in Davos, the Hong Kong Open Golf and a team in the Americas Cup yachting race.
Oswald Grubel, UBS Group Chief Executive, said: “UBS has been searching for a global sponsorship platform that has appeal to our clients, promotes our brand globally and makes good commercial sense.
“Our new partnership with one of the largest and most popular sporting organizations in the world will fulfil all these criteria, and it constitutes a key element of our newly launched branding activities. The global reach of F1 complements the many local activities we support.”