DHL Boss Says F1 Sponsorship Is Less Than Half The $57M Figure Reported

German logistics company DHL "is spending less for its F1 sponsorship than previously assumed," according to  MOTORSPORT TOTAL. DHL Head of Corporate Brand Marketing Wolfgang Giehl said, "It is less than half of the amount that I've read in the media." The investment of the subsidiary of the Deutsche Post AG is less than $30M annually. Previous media reports estimated DHL's F1 sponsorship to be valued at around $57.5M a year. Giehl did not rule out the possibility of Deutsche Post entering an additional racing series besides F1 and the World Touring Car Championship. He said, "I could imagine a third one. In addition, Formula E is certainly interesting, and we will closely follow its development" (MOTORSPORT TOTAL, 11/30).