Honda F1 looking out for sponsors ….

In the limelight these days, just before the 2009 formula1 games begins, hype about sponsor withdrawal, decreased funding and other uncertainties gloom over it. Already the news of ING not renewing contract with Renault after this season has hit headlines.

As Honda is on a look out for sponsors who would sponsor both their pilots through the initial four races of the 2009 formula one season, a ray of hope still glimmers for Honda. All the more likely that Petrobras and Embratel, two Brazilian companies will soon sponsor the Honda’s race team. Announcing this, Bernie Eccelstone, F1’s commercial head further said that this could be possible if Bruno Senna, the nephew of Aryton Senna would be piloting one of Honda’s race cars. He also expressed his wish to watch Honda cars in the first race of the season.

With an estimated 22 million euros required for the first four races of the season which Petrobras and Embratel, energy and telecommunication superpowers in Brazil are ready to shell out for Bruno Senna participation in the racing event through Honda

So, get set to watch Bruno Senna and Jenson Button in action at Australian, Malaysian, Chinese and Bahrain Grand prix events in 2009.

For all the latest formula1 news be sure to check out Sports Fuzz.

Previous Post : Recession Hits F1 Sponsors - ING feels the Heat

Recession Hits F1 Sponsors - ING feels the Heat

Well, with each New Year we have new challenges, new circuits and new drivers participating in the Formula One racing event. A car racing event keenly followed by worldwide fans and media with big shot automobile makers calling shots, you can very well imagine the excitement and thrill ….the hype generated is tremendous and extraordinary.

Economic slowdown and recession has finally affected the car racing world. Recently we have ING, Renault title sponsor announcing its withdrawal from the Formula One races altogether soon after the 2009 season. The reason citied being a cost cutting initiative embarked upon by ING. There is no doubt about formula1 games being the main source of revenue generation and creating brand awareness at a global level of which ING has truly benefited by it.

If one goes by figures, ING stands to most benefits as its brand awareness has shot by almost 16% but yet it has gone ahead in announcing a 40% reduction in total spending on F1, despite it stand to gain both financially and brand awareness considerably as 2009 has just began and the races have still to take place. They will held at Melbourne between March 27 - March 29 i.e. the ING Australian Grand Prix, Melbourne

Meanwhile a buzz on the Renault side stating a likelihood of cutting down at least 60 jobs, especially those in the test and aerodynamics team …the reason citied as “Change in the Formula One Regulations”. As the decision taking process is underway, uncertainties loom over the teams, sponsors and even the drivers about what the future holds for them.

These happenings do reveal precautionary measures being opted by not only Renault but also ING ….as they are digesting the grim economic conditions and in a way laying down a grey future in the automobile racing world. Which companies – automobiles as well as the sponsors follow suit has yet to be seen in the near future or as the races draw to an end…? Stay tuned to Sports Fuzz to get the latest formula1 news.

Previous Post : Recession sets into F1 car launches.

Recession sets into F1 car launches.

Recession seems to have brought out innovative ways of cost cutting on the F1 circuit. Four F1 teams launched their new cars without the usual fanfare, grandeur and media bytes. The formula1 news doing the roundsis that it was Toyota first who launched TF109 on the internet in a radical move to reduce the costs incurred in launching the car. Through internet they not only saved some moolah but also involved fans in the car launch.

Even a heavyweight like McLaren launched its car in a simple function. A couple of days ago, the British team launched the new car without much fanfare at their factory in Woking, England. A McLaren spokesman admitted the launch was a low-key event. “We had always planned to be so. There was no intention of staging a lavish launch. It was simply convenient to launch at Woking,” he said. The new Mclaren car was tested at the Autodromo Internacional do Algarve. Pedro de la Rosa had the honour of being the first McLaren driver to take it for a spin during a private test at the track in Portugal.

Renault and Williams were the other two teams who launched their new cars. The French team launched their car at the Algarve Motor Park circuit in southern Portugal where the car, R29, was undergoing testing. Renault boss Flavio Briatore was present with the drivers and sections of the media to complete the formality. Renault had planned a grand launch at the Le Castellet circuit in southern France. However, as a part of austerity measure, the venue was shifted. The unveiling itself was a simple affair. It was the same case for Williams which launched their new car, FW 31 in the same manner at the same circuit. But it has not affected the formula1 games