Toyota Motorsport has appointed Sportsworld Media Group to secure sponsors and rights for its new Formula One team, which commences Grand Prix racing in 2002.
The appointment coincides with the announcement that the Japanese car company has signed a deal with the Matsushita Electric Industrial Company, which will see its Panasonic brand become title sponsor of the car.
Sportsworld will now negotiate the second-tier sponsorship opportunities for the Panasonic Toyota Racing team.
The negotiations will be overseen by Sportsworld commercial director Malcolm Crease.
He says: “The Toyota car provides sponsors with the opportunity to move into an uncluttered environment – unlike many of the other cars, which carry brand overload and offer minimal differentiation between sponsors.”
Crease adds that Toyota also carries the weight of the third largest motor manufacturer in the world behind it.
He says: “Sponsorship revenues will not influence or dictate the performance of the team.”
Toyota’s venture into Formula One is viewed as an attempt to create a new corporate image both domestically and internationally.
Toyota, which will become the twelfth team on the Formula One grid, is focusing on strengthening its brand name and attracting younger customers.
Sportsworld, which was launched two years ago and is owned by Omnicom, also represents the English Cricket Board and the Association of Surf Professionals.