F1 Jaguar in search of new sponsor

Formula One racing team Jaguar Racing has begun searching for a replacement to headline sponsor HSBC following a review of the bank’s global sponsorships.

HSBC’s contract with Jaguar, which is worth more than &£15m a year, expires at the end of this season. The bank has not yet announced whether it will renew the deal, although one F1 industry source claims that the bank planned to withdraw from the Jaguar team.

However, he adds that the bank is keen to maintain an involvement with the sport. He says: “HSBC is looking at other F1 sponsorship opportunities, such as track-side sponsorship and the title rights to a Formula One race.”

A Jaguar insider confirms that the team is in the market for a replacement for HSBC. He adds that a full strategic review of the bank’s sponsorship investments was initiated as part of its review of its global advertising account. Last week, HSBC appointed WPP Group to its &£350m global account (MW, last week). WPP holds the &£15m ad account through Y&R.

Recently, Jaguar unveiled a one-off sponsorship with Warner Brothers around Sunday’s Monaco Grand Prix. The Jaguar car will carry advertising for the company’s movie, Ocean’s 12, starring George Clooney.

The deal was signed by Jaguar head of business development Mark Gallagher, who was recruited in April (MW April 8). Gallagher was previously marketing director at the Jordan F1 team.

Latest from Marketing Week

Marketoonist on PowerPoint pitches

The Marketoonist

Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here Tom Fishburne will be speaking at the Festival of Marketing, which is taking place on 4 and 5 October at Tobacco Dock. To find out more information, including how to book tickets, visit […]

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