Brawn GP Virgin deal confirmedFri, 03 Apr 2009 00:00:00 -0700
Richard Branson celebrates the Brawn GP win at Melbourne.
According to Sports Pro Magazine, the Virgin deal to sponsor Brawn GP has been confirmed for the rest of 2009 on a race by race basis, but in 2010 Virgin will be stumping up for a full year of sponsorship. Good news for Ross Brawn and the team.
After Brawn GP’s superb win in Australia last weekend, Brawn will go in to the race this weekend in Malaysia sporting the same, temporary-looking livery of basic white with just the Virgin logo, and the drivers’ apparel will be plain white.
It would appear that at present Virgin are coughing up $250,000 a race, but in 2010 Virgin will be main sponsor and will pay around $30 million for the privilege. But it could end up in pocket on the deal, according to an insider.
It is believed that the sponsorship deal will be similar to Marlboro’s with Ferrari, in that Virgin will get the rights to brand the Brawn GP outfit and sell on other sponsor placing. This could lead to a substantial profit for Virgin, perhaps in the region of $50 million a year.
It matters not that Virgin may well make a profit on the deal. It’s good to see one of the UK’s most high profile companies supporting a UK F1 Team, and I’m sure the deal will bring a smile not just to the faces of those at Brawn GP, but also to F1′s ringmaster, Bernie Ecclestone.
By Cars UK