Petronas to sponsor Malaysian Grand Prix
author: Sportbusiness Newslines
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Starting Grid 2010 Malaysian Grand Prix
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The Malaysian Formula One Grand Prix has secured Petronas, the National Oil and Gas Corporation, as its title sponsor for a further five years until 2015.
The company, which has signed a contract extension with the Formula One Group, will also enjoy extensive advertising, branding and promotional benefits under the terms of the deal.
“Apart from the continuous benefits our businesses and brand receive through the Formula One exposure, our extension of the agreement to partner Formula One reflects our long-term commitment and continued dedication to support efforts to position Malaysia as a major motorsport hub and tourist destination,” said Mohd Medan Abdullah, Senior General Manager, Corporate Services Division at Petronas.
“As the first modern Asian Formula One venue since Japan, the Petronas Malaysia Grand Prix has since been credited as the catalyst in opening Asia to the sport,” added Bernie Ecclestone, Formula One group Chief Executive Officer.
Petronas has been involved in International Motorsport for the past two decades and has seen a steep increase in its lubricant business internationally ever since.
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