The ING Renault F1 Team will provide the firm with the ‘brand recognition’ they craved on a global platform. The newly-named team will roar into action at the start of the 2007 season.
A statement from Renault said: “ING has selected Formula 1 as the perfect platform from which to build global brand awareness, and target key growth markets for the business. Title sponsorship of the ING Renault F1 Team presented the unique opportunity to achieve a high-impact entry into the sport in partnership with a world championship-winning team.”
Renault F1 Team president Alain Dassas said: “This is an important agreement for the growth and development of the Renault F1 Team, providing long-term stability that reinforces our long-term commitment to the sport. We look forward to a fruitful, win-win relationship with this respected financial institution.”
The final race of the 2006 season will see the Renault F1 team’s current title sponsor, Mild Seven, departing Formula 1 after an unbroken thirteen-season title sponsorship of the Benetton and Renault F1 teams.
