Formula One News » Petronas renews deal to back Malaysian GP Posted on 02/09/2010
The Malaysian Grand Prix will continue to be sponsored by oil and gas giant Petronas, it has been announced today, after a new agreement was reached.
The event at the Sepang International Circuit has been backed by Petronas ever since its inaugural grand prix back in 1999. The new deal is for another five years – until 2015.
“Apart from the continuous benefits our businesses and brand receive through the Formula One exposure, our extension of the agreement to partner Formula One reflects our long-term commitment and continued dedication to support efforts to position Malaysia as a major motorsport hub and tourist destination,” said Mohd Medan Abdullah, Petronas senior general manager, corporate services division.
“The economic activities during the Grand Prix period have also benefited a growing number of local industries – particularly those in the tourism, food and beverage, transportation and related services sectors.
“More importantly, this also signals the growing importance of Formula One to Asia, particularly to the businesses related to this premier sporting event, including the automotive, oil and gas industries.”
F1 boss Bernie Ecclestone added: “I am pleased that Petronas has again used Formula One to let the world follow their success in the oil and gas automotive industry. We have a really close relationship with Petronas who help Malaysia promote the country worldwide.
“As the first modern Asian Formula One venue since Japan, the Petronas Malaysia Grand Prix has since been credited as the catalyst in opening Asia to the sport.
“Other Asian venues in the Formula One calendar in addition to Malaysia and Japan include China, Bahrain, Singapore, Abu Dhabi and now Korea.”
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