In a move that is likely to strengthen its brand appeal, Dutch financial institution ING Group has finalized a three-year title sponsorship agreement with the Renault F1 team, the reigning Formula 1 champion.
<p>The ING Renault F1 Team will enter Formula 1 at the beginning of the 2007 championship. Financial details of the agreement have not been disclosed.<br /><br />Of the 17 countries in which Grand Prix races take place, ING is active in 15. With a total television audience of around 850 million people per year, Formula 1 will provide ING with a strong global platform to further strengthen its premium international brand appeal, particularly in the company's key growth markets. <br /><br />The title partnership deal will be highlighted through an integrated global branding and marketing approach aimed at strengthening the ING brand and bringing it more into line with the scope of our global customer base of 60 million clients, said the company in a statement.<br /><br />In addition to teaming up with Renault, ING has finalized an agreement with Allsport Management for on-track sponsoring at several Formula 1 Grand Prix races in key markets in 2007.</p>