LG, the South Korean electronics brand, has decided not to extend its contract as a corporate sponsor of Formula One racing, after five years. LG signed a contract with Formula One CEO Bernie Ecclestone in November 2008 to become a ‘technology partner’. The deal placed LG’s branding on the international broadcast feed and timekeeping systems.
The world’s second-biggest TV manufacturer said in a statement: “LG will be refocusing its sponsorship strategy towards regional platforms from 2014 onwards. LG would like to thank the many organizations, teams and individuals it has worked with during its time in Formula One.”
Gillette (P&G) – Bruno Senna/Williams
Another name has emerged as a possible successor for McLaren’s departing title sponsor Vodafone. The conventional wisdom in the paddock is that the Sergio Pérez-linked Telmex – Mexican billionaire Carlos Slim’s telecom giant – will arrive to replace Vodafone at the end of the year.
Germany’s Auto Motor und Sport, however, has thrown another name into the hat. The magazine said the “latest rumour” is that McLaren’s next title sponsor could be Gillette, the US multinational and producer of safety razors.
Previously, Gillette – the market leader in Brazil – sponsored former F1 driver Bruno Senna at Williams and Lotus.
Intel – Caterham (previously BMW, trackside)
General Electric – Caterham
Telefonica – trackside
SingTel – trackside
Royal Bank of Scotland – Williams, trackside
Philips – Williams, trackside
Panasonic – trackside (previously Toyota)