Siemens set to drop £10m tie-up with F1

Siemens is poised to cut its £10m association with Formula One after an internal rethink of its Siemens Mobile sponsorship.

Siemens Mobile’s £5m contract with McLaren Mercedes F1 team expires this year, while its £5m deal with F1 rights-holder Allsport as the official supplier of communications is up for renewal next year.

Industry sources close to Siemens says that divisions within the company are concerned that the sport’s image does not fit with Siemens’ overall corporate image. Siemens Mobile is a relatively small part of the company. Other divisions of the business include manufacturing, medical, transport, building and infrastructure.

Stephen McMahon, co-ordinator for F1 in the company’s global sponsorship division, confirms the company is evaluating its sponsorship but denies that a decision has been made: “We are still in the process of evaluating. No decision has been taken on next season.”

Sources say the Siemens Mobile sponsorship of Spain’s Real Madrid football team will not be affected. An insider says the sponsorship – signed last year – has tested well across the world.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here