Coca-Cola Could Replace Vodafone As Sponsor Of F1 McLaren Team
Coca-Cola could "become the new title sponsor" of the McLaren F1 team if current title sponsor Vodafone backs out of its sponsorship deal, according to Sylt & Reid of MOTORSPORT-TOTAL.com. The telecommunications company Vodafone "reportedly invests" £48M ($75M) annually to be the team's title sponsor. Vodafone, which signed an extension through '13 in '10, has been with the team since '07. The current economic situation has led to an internal evaluation of the company's F1 sponsorship deal. If Vodafone discontinues its sponsorship, Coca-Cola would be "an ideal replacement." Coca-Cola has sponsorship deals with the Olympic Games and with various UEFA tournaments. The Olympic Games alone cost the company an estimated €80M ($98M) every four years (MOTORSPORT-TOTAL.com, 7/8).