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ING Ending F1 Sponsorship
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by TFleming | February 16, 2009 at 10:51 am
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ING Groep, the Dutch bank and insurance company, announced Monday that it will not be renewing its sponsorship with Formula One team Renault after 2009.
This comes as a cost-cutting measure after a multi-billion dollar loss and a bailout from the Dutch Government. ING is planning to cut 40% of its spending on F1 this year and review participation after 2009. The total budget before the cut is around $100 million.
This is the latest blow to Formula One Racing that saw Honda drop out earlier this year as well as the Credit Suisse Group who ended their sponsership of BMW Sauber.
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at 17:06 on February 16th, 2009
Fernando Alonso returning to the garage at the inaugural Singapore F1 Grand Prix, which he later went on to win - the first of two wins in 2008.
mintimage has contributed a photo to this story.
at 00:12 on February 17th, 2009
The ING Renault Roadshow in New Delhi 2008, was the first for most of us. The excitement of the crowds was a reliable judge of how much we appreciated it and the high level of interest that prevails in Formula One in India.
I can only hope ING comes back stronger and we can expect more such shows in better times.
at 06:47 on February 18th, 2009
Burnout at the Renault weekend at Donnington Park
Wibberdywob has contributed a photo to this story.