The Dutch bank ING on Monday announced that it will end its Formula One sponsorship activities at the end of 2009.

It was already clear that Renault's embattled title sponsor was reviewing the F1 programme - which also includes trackside advertising and naming sponsorship of Grand Prix - because of the global financial crisis.

The Dutch government recently moved to safeguard ING Group, who had posted a second consecutive multi-billion dollar quarterly loss and decided to cut F1 spending by 40 percent this year.

The three-year title sponsorship of Renault was due to expire at the end of this year.
A statement said ING has decided ‘not to renew’ the deal and therefore will ‘end its presence in F1’ beyond 2009.

"ING has enjoyed the relationship with Renault F1 and will continue to work closely with the team during the final year of the partnership," the statement added.

Source: GMM
© CAPSIS International

 

I can't imagine Renault would stick around for too long if ING pulls out.

 

I can't see them lasting either. Carlos Ghosn has made it explicitly clear that if the team isn't profitable, he sees no point of remaining in formula 1. I can't see who could possibly step in to support Renault.

I would have expected Santander, but they're already committed to Ferrari, which is tough for me not to expect Fernando to end up at Ferrari.

 

Not surprised, considering all the changes that have happened with their wholesale banking division.

 

Renault has been in F1 for a long time it'll be a shame if they leave F1 they should be at least engine suppliers IMO

 

Alonso has enough big supporters that someone would float the team for 2009. After that, I don't know.

 

ING has been named the official title sponsor of June's Turkish Grand Prix.

The Istanbul race has in previous years been usually backed by the Turkish petroleum company Petrol Ofisi.

The news, to see the 2009 event renamed the ING Turkish Grand Prix, is despite the Dutch bank's decision to pull out of Formula One sponsorship at the end of this season.

This year, the Grand Prix in Australia, Belgium and Hungary will also be title sponsored by ING.


Source: GMM
© CAPSIS International

 

At least they're going out in a big way!