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F1 signs major Saudi Aramco sponsorship ahead of possible Saudi GP

(Photo credit should read SRDJAN SUKI/AFP via Getty Images)

Formula 1 has signed a major global sponsorship deal with state-owned oil and chemicals company Saudi Aramco in a move that could serve as a prelude to the hosting of a grand prix in Saudi Arabia.

Saudi Aramco will become F1’s sixth global partner alongside DHL, Emirates, Heineken, Pirelli and Rolex. Deals in this category are priced at about $40m (€37m) per season at the upper end.

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