ING, which said in February it would
not renew its three-year partnership with the Renault Formula 1
(F1) team, has ended the sponsorship four races before the end of
the F1 season in light of Renault admitting it had cheated its way
to victory at the 2008 Singapore grand prix.
“ING is deeply disappointed at this turn of
events, especially in the context of an otherwise successful
sponsorship,” said the Dutch group in a statement.
Go deeper with GlobalData
In a separate announcement, Spanish insurer
Mutua Madrilena said it would also end its backing of Renault,
citing the breach of F1 rules by the French manufacturer, but said
it would continue to back Spanish driver Fernando Alonso, widely
expected to switch to Ferrari next season (see RBI
618).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
