Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Home » Sports » Motor Racing
Renault's sponsor ING to quit F1
February 17, 2009, Tuesday
|
Print Edition
Print Edition
RENAULT'S title sponsor ING Group announced yesterday that it was pulling out of Formula One at the end of the 2009 season.
"In light of the recently announced cost reduction program, ING confirmed today not to renew the three year sponsorship (2007-2009) contract with Renault F1 and to end its presence in F1 beyond the 2009 season," ING said. The group announced last month that they would cut operating expenses by 1 billion euros (US$1.29 billion) in 2009 as well as scrapping 7,000 jobs worldwide. ING paid around US$65 million to Renault.
"In light of the recently announced cost reduction program, ING confirmed today not to renew the three year sponsorship (2007-2009) contract with Renault F1 and to end its presence in F1 beyond the 2009 season," ING said. The group announced last month that they would cut operating expenses by 1 billion euros (US$1.29 billion) in 2009 as well as scrapping 7,000 jobs worldwide. ING paid around US$65 million to Renault.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
