Formula One news
Mubadala extends Ferrari deal
17 March 2008The Ferrari Formula 1 team can count on Mubadale's sponsorship until the end of the 2010 Formula 1 season the company from Abu Dhabi announced. The company had a contract until the end of 2009.
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Marketing Communications Manager, Mubadala said, "We first signed a three year deal in 2007, taking us up to the end of 2009. We have now decided to extend the agreement to the end of the 2010 season."
"The newly-negotiated partnership raises Mubadala's visibility throughout the 2008-2010 seasons through more prominent branding on the nose cone of Ferrari F1 cars, renewed access to the drivers and test drivers, Mubadala branding at Fiorano - Ferrari's Italian test track - and Ferrari's reigning world champion, Kimi Raikkonen, and his team-mate, Felipe Massa, contracted to wear Mubadala branded caps," said Al Shorouqi.
"The extension to this agreement underlines Mubadala's ongoing strategy to form partnerships with world-class businesses" said Waleed Al Mokarrab Al Muhairi, COO of Mubadala.
Mubadala, an investment and development company established and wholly-owned by the Government of the emirate of Abu Dhabi, owns a five per cent stake in Ferrari, which was purchased in 2005.
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