Airtel Reportedly Named Title Sponsor of Indian Grand Prix
May 16, 2011
Telecom giant Airtel is believed to have signed a five-year agreement, cheap worth around US$13.2m a year, cure to title sponsor India’s new Formula One race, pending confirmation.
Any such deal would represent a highly significant first foray into the Indian market for Formula One Management and its sister company Allsport Management, which arranges the sport’s trackside advertising and hospitality packages.
Formula One title sponsorship deals have traditionally been sold for around US$4m or built into central sponsorships of the sport.
Bharti Airtel has over 200 million customers, operates in 19 countries across Asia and Africa and is already heavily involved in Indian sport having sponsored the country’s national cricket team. In December it concluded a deal with Premier League champions Manchester United aimed at the African market.
The first Indian Grand Prix is schedule for October 30, subject to the completion of the purpose-built new circuit in Greater Noida, on the outskirts of Delhi. The circuit, being built by Jaypee Sports and part of the development of a wider sports city, was recently named Buddh International Circuit.