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Bernie Ecclestone Planning To Launch Masters Racing Series Featuring Former F1 Drivers
Published April 18, 2014
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SPONSORSHIP GURU: In a separate piece for CITY AM, Sylt reported Ecclestone "plans to recruit a head of sponsorship this month." Sponsorship comprises 14.7%, or $225M of F1’s $1.6B annual revenue, yet "it has growth potential as it lacks partners in categories such as clothing, mobile phones and soft drinks." Ecclestone receives advice from former former IOC Marketing Dir Michael Payne, who was also the senior strategic advisor to the London 2012 Olympics, but said that "he will need closer assistance when his bribery trial begins in Germany" next Thursday. Ecclestone: "We need somebody who can sell sponsorship. Not a successor, but somebody to help me" (CITY AM, 4/15).