Foster’s puts the brakes on F1

Posted: April 11, 2006 by Neeraj in External, FIA, News, Sponsors

As reported on news.com

AUSTRALIAN brewer Foster’s is pulling out of global sponsorship of Formula 1 car racing after 20 years.The decision follows the sale of the brand name in Europe to Foster’s UK brewing and distribution partner, Scottish and Newcastle (S&N) plc, for $750 million.

Foster’s has the naming rights for the Australian Grand Prix, Imola in San Marino and Silverstone in the UK.

It also has signage rights for 10 grands prix and pourage rights for 12 of the 18 races through the year at an annual cost of $17 million.

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