Etihad extends Abu Dhabi F1 sponsorship deal

Etihad Airways said on Wednesday it has signed an agreement with the Formula One Group extending the airline's sponsorship of the Abu Dhabi Grand Prix for a further four years. The deal will see the UAE carrier continue as title sponsor through to the 2015 event, it said in a statement.Etihad has been main sponsor for the race since the inaugural Formula 1 Etihad Airways Abu Dhabi Grand Prix in 2009.Last month, Etihad signed soccer’s largest sponsorship agreement with Abu Dhabi-owned manchester City, worth more than $482m over 10 years. James Hogan, Etihad Airways CEO, and Bernie Ecclestone, Formula One Group CEO, inked the multi-million dollar deal, although no specific value for the agreement was disclosed. Hogan said: "This sponsorship extension goes against the current commercial trend of shorter sponsorship terms and demonstrates our long-term commitment to Formula One. "We have seen that F1 is a highly effective vehicle, no pun intended, for promoting the values of the Etihad brand and showcasing our home city of Abu Dhabi to a massive global audience." He added: "The additional four year term also allows us to strengthen our footprint with F1 and leverage our investment in their global platform more strategically. I am thrilled to build on the already excellent relationship with Formula One." Ecclestone said: "The Formula 1 Etihad Airways Abu Dhabi Grand Prix has been an immense success for Etihad, Abu Dhabi and for Formula One, bringing the airline and destination to an estimate worldwide audience of more than 500 million F1 fans." As part of the partnership, Etihad will continue to promote the event globally through its various communication channels and marketing programmes.The airline will also fly its two F1-branded liveried aircraft to destinations across its network. One of these specially-painted aircraft will again do a flyover of the Yas Marina Circuit to open the 2011 event. Etihad will continue to receive a major trackside advertising package and podium branding for the Abu Dhabi Grand Prix.The Abu Dhabi Grand Prix is the first F1 twilight race, and will take place at Yas Marina Circuit on November 11-13.Last month, organisers said 70 percent of tickets had so far been sold for the race and they were expecting another sell-out event. From / Arabian Business News