ING dumps Renault F1

ING, the title sponsor of Renault F1, has severed all ties with the team immediately in the wake of the race-fixing scandal.

The Dutch bank announced earlier this year that it was to end its sponsorship of the team at the end of the season as part of cost-cutting drive but has decided to pull out four races early.

The firm’s decision follows the verdict of the World Motor Sport Council earlier this week, which ruled that Renault conspired to cause a deliberate crash in order to fix the result of last year’s Grand Prix in Singapore, an offence, it says “of unparalleled severity”.

The team was handed a two-year suspended band, while former team boss Flavio Briatore, who days earlier had resigned from his post, has also been barred from any involvement in FIA-sanctioned events indefinitely.

In a statement, ING says “it is deeply disappointed at this turn of events, especially in the context of an otherwise successful sponsorship”.

The bank’s decision is a second blow for Renault, which lost the support of Spanish insurance firm Mutua Madrilena yesterday (24 September).

Renault’s other sponsors include Total, Puma and Pepe Jeans.

Recommended

Comments

    Leave a comment

    Close

    Discover even more as a subscriber

    This article is available for subscribers only.

    Sign up now for your access-all-areas pass.

    If you're an existing paid print subscriber find out how to get access here.

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now

    Got a question?

    Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

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

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now