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Author Topic: Ferrari announces new sponsor (Read 1119 times)

davewilson

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Ferrari announces new sponsor

« on: January 11, 2007, 06:56:14 PM »

Maranello, Italy — Ferrari's Formula One team announced a three-year sponsorship agreement Thursday with an investment company owned by the Emirate of Abu Dhabi.

The logo for the Mubadala Development Company will be displayed on Ferrari's cars and the caps worn by the team's drivers, Kimi Raikkonen and Felipe Massa.

Financial terms were not disclosed for the agreement, which started Jan. 1. In July 2005, Mubadala purchased a 5 percent stake in Ferrari from Mediobanca of Italy.

Earlier this week, Ron Dennis sold half of his 30 percent stake in the McLaren team to a company owned by the Kingdom of Bahrain./
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