Vodafone Reviews McLaren F1 Sponsorship

McLaren’s title sponsorship with the world’s second-largest mobile telecommunications company, Vodafone, is under jeopardy after the British multinational company revealed it is to review its ‘global sports and events sponsorship’.

The telecom giant has been the team’s title sponsor since 2007 at a cost of tens of millions, but it’s believed they may downscale their involvement when their current contract expires at the end of the 2013 season.

The Financial Times quotes a person close to the company saying the deal must be ‘re-evaluated during these tough economical times’.

It added: “The race is still one of a few major events to be popular with a global audience, which means that a sponsorship can work on a number of levels in different regions and is therefore attractive for brands such as Vodafone wanting to extend their global reach.

“However, the general sponsorship market has been affected by the global economic downturn, with some banking groups more reluctant to be seen spending money on events.”