February 1st, 2006
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Japan Tobacco has confirmed the long running speculation that its backing of the Renault F1 team via its Mild Seven brand will end at the completion of the 2006 FIA Formula One season.
The company says that it is pulling out in order to be in compliance with the “International Tobacco Products Marketing Standards” which in part seeks to end tobacco sponsorship of sporting events.
The withdrawl of Renault’s major sponsor is another potential distraction as the team enters 2006. Already the team have lost Fernando Alonso to McLaren in 2007 and there is rampant speculation that the team may be wound up at seasons end (although the president of Renault has stated that Renault will stay in F1 as long as the team performs and it is “decent financial return on the money invested” in F1). |
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Entry Filed under: Formula 1
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