Branson is expected to announce Virgin’s sponsorship in Melbourne

According to the newspaper The Times, Sir Richard Branson, owner of Virgin Group, is the new partner of the Brawn GP team starting this weekend during the Australian Grand Prix. He cut short his family skiing trip to attend the official partnership announcement during the Australian Grand Prix.

According to the daily, Branson announces several million pounds in a contract with the Brackley team.

Virgin is the second sponsor to be unveiled for Brawn GP following the announcement of an agreement with the company Henri Lloyd.

Virgin Group was linked to the takeover of the former Honda team at the beginning of the year, but Branson admitted that the sport needed to change before Virgin Group could commit.

« I believe there are mistakes that need to be corrected before being able to go into F1, » said Branson on BBC’s microphone.

« Virgin and Brawn GP have come to commercial terms that Richard Branson desired. Each of them is extremely satisfied, » declared Bernie Ecclestone also to the Times.

The F1’s chief financial officer worked closely with Richard Branson and Ross Brawn on this new partnership agreement.

« If Ross Brawn hadn’t done it, Richard and I would have done it anyway, but I’m delighted with how it has been achieved and the agreement that has been set up. This is good for them but also for Formula 1. »

Although the Virgin brand has never been an official sponsor in Formula 1 in the past, Richard Branson had signed an agreement with Eddie Jordan during the 2002 season with Virgin Mobile, as well as with Super Aguri and driver Takuma Sato with Virgin Atlantic Japan.

The official statements should arrive tomorrow.