Marketplace Roundup: Ferrari Agrees To First China Sponsorship Deal
F1 team Scuderia Ferrari announced that it has reached a sponsorship agreement with Chinese heavy powertrain system and machinery vehicles manufacturer Weichai Power. The agreement will last four years and will expire at the end of the '16 season. Weichai Power is part of the Weichai Group and will be the first Scuderia sponsor to come from China (Ferrari). ... The England and Wales Cricket Board (ECB) announced that Yorkshire Tea has signed a commercial agreement to become the official brew of England Cricket. The deal will run through Oct. '15 (ECB). ... U.K. insurance intermediary Bridle Insurance revealed that it will not extend its sponsorship of League Two club Oxford United (Bridle Insurance).