Axing of F1 race worries backers

Formula One is facing a potential revolt from its UK sponsors should the British Grand Prix be axed from the schedule next year.

Sponsors such as Vodafone have expressed concern that the race could be cancelled. A company insider says that Silverstone is a crucial part of the company’s corporate hospitality calendar and is used for consumer race day promotions. She adds that the company would “make its views known”.

Jim Wright, marketing director for the BMW Williams team, whose partners include GlaxoSmith-Kline’s NiQuitin, Hewlett-Packard, Hamleys and Budweiser, admits that “all our sponsors want a British Grand Prix.”

Foster’s, which holds the headline sponsorship rights to the British Grand Prix, is also worried about the prospect of the race being axed, claims a company insider. ITV may also find it hard to secure a broadcast sponsor for next season if the UK race is pulled. The Daily Telegraph’s broadcast sponsorship ends this season.

F1 boss Bernie Ecclestone dropped Silverstone last week, but the race could be reinstated should Ecclestone strike a last-minute deal with the British Racing Drivers’ Club, which owns Silverstone.

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