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Formula One lose $26m Communications Partner

Formula One lose $26m Communications Partner

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Formula One lose $26m Communications Partner

Formula One lose $26m Communications Partner

Tata Communications have decided to end an eight year partnership with Formula One, leaving the sport without a communications partner on the eve of the 2020 season.

It is reported that Tata Communications paid a figure in the region of $4million (£3.05m) annually after entering a partnership with the championship in 2012. In total, the Indian based company have splashed out $26m (£19.8) across the eight years.

“We have decided to bring to a close our marketing partnership with F1 and explore other platforms that will allow us to showcase the full power of our digital services to our key customers,” said a spokesperson for Tata Communications.

“We started this partnership in 2012 with the mission to digitally transform the sport whilst raising awareness of our global networking expertise amongst our enterprise customers. Our eight-year F1 journey, spanning 150+ races, was all about driving innovation in the sport.

“Over the years, we have evolved our services portfolio and capabilities, and – as we had achieved what we set out to do – we feel it’s the right time for us to conclude this marketing partnership.”

The company are continuing their relationship with MotoGP but also have several sponsorship ties with individual F1 teams such as Mercedes. No announcement has been made as to the future of these deals but, with the season only several weeks away, deals for 2020 should be locked into place by this point.

“We’re proud of the fact that for eight years, we played a central role in the digital transformation of F1 and its entire ecosystem: enabling the organisation that runs the sport, Formula 1, to innovate; helping the reigning world champions Mercedes-AMG Petronas Motorsport to win; and working with 20+ broadcasters to bring the action to millions of fans worldwide," the spokesperson continued.

“While our marketing partnership concluded on 31st December 2019, we continue working with many of our F1 customers and partners behind the scenes for now.”

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