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
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.