Barclays in F1 tie-up search
LONDON - Barclays is believed to be eyeing up opportunities for sponsorship within Formula One.
Barclays is mulling a move into F1
Sources claim the bank, which is one of the world's biggest investors in sports sponsorship, is in negotiations with Red Bull Racing. The team's current partners include Renault, Total, drinks company Rauch and Pepe Jeans.
The bank's current sponsorship portfolio includes the title sponsorship of the Premier League and deals in tennis and golf. It renewed its three-year £82m football sponsorship last October, which runs until the end of the 2012/13 season. The deal includes exclusive worldwide marketing rights, UK and international TV programme accreditation, extensive advertising packages, tickets and hospitality.
Barclays also has a 20 year agreement to title sponsor the Barclay's Center in New York, which will become the home of the New Jersey Nets basketball team.
Rival Royal Bank of Scotland ends its sponsorship deal with the Williams Formula One motor-racing team at the end of the current season when its contract expires. The decision not to renew the deal is part of a scaling-down of its sponsorship activity.
Santander is involved in F1 through its partnership with both Ferrari and Vodafone McClaren Mercedes. ING abandoned its title sponsorship of Renault following the team's 'Crashgate' scandal, last year.
Barclays denied it is in sponsorship discussions with Red Bull racing.
This article was first published on marketingmagazine.co.uk
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