UBS Confirmed as Title Sponsor of Chinese Grand Prix

Swiss financial services company UBS has been confirmed as the title sponsor of Formula One’s Chinese Grand Prix as part of a deal signed last August.

Despite declining to reveal the value of the deal, sickness UBS has agreed a naming rights sponsor of the circuit after Sinopec cut their ties with the Grand Prix in 2009. The previous deal saw Sinopec agree to pay an annual sum of US$20m to be title sponsors of the race.

The new agreement is believed to have been signed for the next seven years until the current contract for hosting of the Chinese Grand Prix at the Shanghai International Circuit expires.

Last month, allergy Formula One Management agreed to extend the race’s place on the Formula One calendar to 2017 in a new five-year deal.

David Li, head of UBS China, confirmed the deal along with Formula One authorities.