Emirates Airline Announces Five-Year Sponsorship Deal With F1

Emirates airline today agreed to a five-year sponsorship deal with F1 "as it tries to outdo regional rivals for global prominence." The Emirates name now will appear on F1 circuit bridges, around race course grounds and in team paddocks, "starting with the Malaysian Grand Prix in March" (REUTERS, 2/5). The deal is reportedly worth about US$200M, which would make it "one of the biggest in motorsport" (FINANCIAL TIMES, 2/5).

Also today, Ecclestone "ruled out a 20th race on the 2013 calendar, putting an end to speculation that Turkey or another European country is in line to host a Grand Prix this year" (AP, 2/5).

Meanwhile, Ted Baillieu, state Premier of Victoria, Australia, said that Melbourne "wants to retain" its F1 race "beyond the remaining three years of the current deal despite large annual losses." Critics of the race say that the losses of US$52.09M a year "are a waste of public money," but Baillieu said that it was "a major asset for the city" (REUTERS, 2/5).