Ferrari has confirmed it is extending its sponsorship deal with title sponsor Philip Morris International – makers of the Marlboro cigarettes – until the end of the 2015 season.
The team’s current sponsorship deal – believed to be worth a total upwards of $1 billion – was announced in 2005, and was set to end at the end of this season.
What is remarkable about this deal is that is exists at all, given that the stringent anti-tobacco laws forbid any form of tobacco advertising. Last year’s attempts to run a barcode logo were interpreted as subliminal advertising and swiftly removed mid-season, but the team continues to run under the entry of Scuderia Ferrari Marlboro.
The value is no doubt in the team name and the historic value of the relationship (dating back to 1984), and through hospitality and promotional events throughout the year.
Richard Bailey
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