Shell has ended its F1 trackside sponsorship deal as well as its title backing of the Belgian Grand Prix.
Shell had been the title sponsor of the Belgian Grand Prix since 2011, when it also extended its trackside sponsorship deal with Formula One Management (FOM). However, with Shell also a partner of Ferrari it opted against extending the race or FOM agreements which expired at the end of 2015, leaving the round at Spa-Francorchamps without a title sponsor at present.
“Shell has decided not to renew its trackside advertising agreement with Formula One Management or to continue its title sponsorship of the Belgian Grand Prix,” Kai-Uwe Witterstein, Shell Global Sponsorships Manager said.
“It has chosen instead to focus on and strengthen its newly-upgraded Innovation Partnership with Scuderia Ferrari. Running until 2020, this agreement with the most successful team in the sport, acts as proof of Shell’s continued commitment to Formula 1.”
Bernie Ecclestone also confirmed an agreement could not be reached but highlighted Shell’s ongoing involvement in the sport.
“The reason is we could not agree terms,” Ecclestone said. “I am happy that they allocated the budget they had to Ferrari. Their commitment is still with the F1 family.”
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