F1 signs sponsorship deal with UBS

Formula 1 has secured a fresh boost with the major financial services company UBS announcing on Monday that it has chosen to become a global sponsorship partner of the sport.

UBS conducted a detailed evaluation of the worldwide sponsorship opportunities and decided that F1 offered it the best opportunity to fulfil its desire for the global reach and brand awareness.

The deal announcing that UBS has become a global partner will be formally launched at the Singapore Grand Prix.

Oswald Grubel, UBS Group Chief Executive, said: "UBS has been searching for a global sponsorship platform that has appeal to our clients, promotes our brand globally and makes good commercial sense.

"Our new partnership with one of the largest and most popular sporting organizations in the world will fulfil all these criteria, and it constitutes a key element of our newly launched branding activities. The global reach of the F1 complements the many local activities we support."