Bernie Ecclestone has claimed that the telco SingTel has renewed its naming rights sponsorship of the Singapore Grand Prix for a further two years until the 2012 race.
The company has held naming rights sponsorship since the event’s inaugural race in 2008, and previously arranged a two-year extension of the contract after the first race. The deal is believed to be worth in the region of $10-15 million.
Singapore’s local media broadcaster MediaCorp is suggesting that the deal done and dusted, amidst rumours that SingTel was not going to renew the deal.
F1 supremo Bernie Ecclestone confirmed the signing, and added that other companies had expressed an interest in taking over the naming rights title sponsorship.
“We agreed terms with SingTel for the renewal of their contract for a further two years,” he said. “We have companies worldwide that wish to have association in Formula 1 and I always prefer to have local sponsors for the title sponsorship.”
However, a spokesperson for SingTel has rubbished Bernie’s claims, telling GMMF1: “We are still in discussions with F1 management regarding the sponsorship of the Singapore Grand Prix.”
So just who’s telling the truth here?