Sponsor deal good news for Renault future
October 28, 2009 by SJ Skid
Filed under Prime & Option
Renault today announced a three-year sponsorship deal with watchmaker TW Steel — its first new package since the Singapore scandal and the early pull-out of backers such as ING.
Autosport had the time to get us some details:
Although the fall-out from the Singapore Grand Prix crash affair resulted in title sponsor ING quitting the team with immediate effect, the matter has actually resulted in an increased commitment from parent company Renault to make a success of its Formula 1 plans.
And the team was able to announce a three-year deal with TW Steel, which will become its official timing partner, ahead of the final race of the season. The logos of the watch brand will appear on the nose cone, front wing flags and sidepods of the Renault cars from this weekend’s race in Abu Dhabi.
Renault’s managing director Jean-Francois Caubet said: “The partnership brings great value for both the Renault F1 Team and TW Steel and confirms the team’s positive outlook for the years ahead.”
Combined with the signing of Robert Kubica, this sounds like a pretty strong commitment from Renault and the team, despite some lingering rumors about how long it would be in the sport. [Can we officially put Toyota back at the top of the "iffy" teams?]
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Kind of Operating Model Parent Company had with RenaultF1 team, I wouldn’t read too much into this one sponsor find. In Carlos Ghosn’s regime the Parent Company had laid out clear direction for the F1 team – Manage your own revenues, keep yourself viable and keep scoreboard ticking.
So given the amount Sponsorship Involved Its a long way ahead.
And who knows this sponsorship is just another tick in the box if the Parent Company wants to F1 operations on Sale…
Wasn’t TW Steel the watch company involved as Official sponsor of A1GP as well? Their backing and Ferrari’s Involvement as Engine Supplier didn’t stem the downturn of what was developing as a good Motor racing series.
File this one as – Too early to conclude.
Eh, its better than no news about Renault. Good to see that they’re moving in the right direction, hopefully they can get back close to where they were around 2005, 2006 soon.