NEWS: Texaco to pay pounds 12m for F1 motor racing sponsorship on ITV

The oil giant, Texaco, has triumphed in the battle to win sponsorship rights to ITV’s coverage of Formula One motor racing in a pounds 12 million three-year deal.

The oil giant, Texaco, has triumphed in the battle to win sponsorship

rights to ITV’s coverage of Formula One motor racing in a pounds 12

million three-year deal.



Texaco is said to have outbid the RAC in a final two-way tussle to tie

up the biggest-ever sports sponsorship deal on ITV.



In a contract negotiated by Texaco’s integrated agency, IMP, and its

media buying agency, the Media Centre, the company will receive

exclusive sponsorship access to all F1 programming.



The sponsorship package will incorporate short break bumpers during the

race, normal bumper credits in breaks outside the race itself and longer

credits for special F1 weekends.



F1 is seen by ITV as one of the jewels in its male-orientated

programming crown, and it hopes it will boost male audiences after a

lean period during which Sky has run top football events such as the FA

Carling Premiership.



According to ITV, 83 per cent of ABC1 16- to 34-year-old men watched at

least one F1 race last year.



Details of the deal were being worked out as Campaign went to press, but

a Texaco spokesman confirmed talks were at an advanced stage.



Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Why creative people have lost their way

What better way to kick off Campaign's relaunch than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).