Tata pulls out of F1 sponsorship
Tata Communications has ended its $4m annual sponsorship package with Formula One as the Indian telecom giant accelerates efforts to seek alternative avenues of promotion and concentrate on its pairing with MotoGP.
Tata pulls out of F1 sponsorship
As the official connectivity partner for the sport since 2012, Tata was in the driving seat of a digital transformation of the sport. It's now left the financial and technical gap for F1 owner Liberty One to fill.
A Tata spokesperson confirmed: “We have decided to bring to a close our marketing partnership with F1 and explore other platforms that will allow us to showcase the full power of our digital services to our key customers.
“Over the years, we have evolved our services portfolio and capabilities, and - as we had achieved what we set out to do - we feel it’s the right time for us to conclude this marketing partnership.”
Since acquiring the rights to the game in 2017 Liberty One has struggled to bring on board additional sponsors while existing partners such as financial services giants Allianz and UBS have also pulled out.
Meanwhile, in Vietnam Heineken has become the official beer partner of the countries first Grand Prix.
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