EMIRATES HAS FURTHER enhanced its sports sponsorship portfolio by agreeing a multi-year deal with Formula One Management (FOM) to become a Global Partner of Formula One (F1).
The deal will see Emirates present at 15 of the 19 scheduled races for the 2013 season and, while unconfirmed, it has been widely reported that the deal will run for at least five years.
Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum confirmed at the official press conference that the deal carries a value of at least $10 million per year.
The Dubai-based carrier is expected to pay a far greater annual sum than $10 million. Swiss bank UBS’ global sponsorship of F1, agreed in 2010, is thought to be worth around $200 million while Swiss watchmaker Rolex, which agreed a multi-year global deal in December, is estimated to be paying more than UBS.
Emirates will not be present at the Abu Dhabi Grand Prix or the Bahrain Grand Prix as these two events are already title sponsored by two airline brands, Etihad Airways and Gulf Air respectively.
Similarly, national airline Qantas has a pre-existing agreement with the Australian Grand Prix while the Monaco Grand Prix organises its own commercial partnerships.
For Emirates, the F1 deal follows a five-year to become a global partner of the ATP World Tour, the premier men’s professional tennis circuit, signed in December.
For Formula One, the recruitment of Emirates is the latest example of FOM’s strategy of recruiting “prestige” brands.
Speaking exclusively to Sports Marketing Frontiers after the Rolex deal was signed, Bernie Ecclestone, chief executive of Formula One Management, said: “We try to find, where we can, prestige brands. If you look at all the brands we have [as Global Partners], they are exactly that. And certainly Rolex is one of those brands.”
The full story on Rolex’s partnership with Formula One can be found in the January issue of the Sports Marketing Frontiers newsletter. For more information regarding subscription, please click here.
By Luke Harman
Follow Luke on Twitter: @lukeharmanSBG