Abu Dhabi maintains its commitment with Toro Rosso
Abu Dhabi has become a significant partner of Toro Rosso since mid-2011, through the presence of three of its investment fund IPIC's subsidiaries, Falcon Private Bank, CEPSA, and Nova Chemicals. The latter two have just extended their agreement with the Italian team for the 2013 season.
The ties between the Faenza team and the capital of the United Arab Emirates have gradually strengthened since the initial sponsorship investments made in 2011.
Last year, Abu Dhabi, through another of its investment funds, Aabar, withdrew from Daimler in general and from the Mercedes F1 team, where it previously held 40% of the capital. However, the emirate allegedly holds the same percentage in Red Bull’s sister team, which explains the presence of so many sponsors owned by the latter.
The new agreement, signed for the 2013 season, which links Toro Rosso with CEPSA, allows them to take a further step in their interdependence. Indeed, while the Spanish petrochemical company previously limited itself to placing its logo on the cars and suits of Jean-Eric Vergne and Daniel Ricciardo, it has decided to go further. It is now planned that CEPSA will supply products that the team will use in the operation of its new car, which is highly influential in the performance of the latter.
Santiago Bergareche, the co-president of the company, stated: « CEPSA is proud to support Scuderia Toro Rosso, which represents a significant step forward in our international exposure and the best demonstration of our technology and innovation at the highest level of motorsports. »
On its side, the agreement with Nova Chemicals remains unchanged in scope.
With the participation of www.Racingbusiness.fr
