Mild Seven set to rethink Formula 1 tie-up
LONDON - Tobacco brand Mild Seven is reassessing its title sponsorship of the Renault Formula One team, despite its contract still having a year to run.
Fernando Alonso's success in becoming the youngest F1 champion has prompted Spanish telecoms firm Telefonica to push to upgrade its Renault sponsorship from second-tier status.
The most likely deal would see Telefonica take over Mild Seven's top-tier place, allowing the tobacco brand to end its association early. Mild Seven could also switch slots with Telefonica, significantly reducing the tobacco brand's £20m-a-year sponsor fees.
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The ban on all tobacco advertising at most F1 circuits has severely limited the exposure Mild Seven receives.
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Renault: Mild Seven may pull out
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