Virgin signs an agreement with CNBC

American television networks definitely love Formula One: after CNN partnered with Lotus Racing last year, the financial news channel CNBC has decided to invest alongside Virgin Racing.

The logo of the Englewood Cliffs channel will make a notable appearance on the single-seaters of Timo Glock and Jérôme d’Ambrosio as it will be displayed on the front wing and the rear of the radiators. It will also appear on the drivers’ suits as well as in the team’s reception areas.

But as is customary in these times of major economic crisis, efficiency and commercial applications are the highlight of this agreement. Thus Mick Buckley, the CEO of CNBC, claims to see many interesting opportunities both in marketing and commercial areas stemming from our association with the Maurssia Virgin Racing Team.

The commercial aspect will take two forms: the first will involve creating business-to-business meetings in paddocks around the world. This way, current and future partners of the team will be able to benefit from the global audience of the channel and its website, CNBC.com. Although the nature of these advantages is not detailed, it is reasonable to imagine that they could take the form of discounts on advertising broadcasts on the channel.

The second installment will see the channel produce numerous reports on the team, focusing on the stable, the technology used, and the main issues facing Formula 1. This will be an opportunity to significantly increase the broadcast of images of the team and therefore its sponsors, as Andy Webb, the team’s CEO, mentions: CNBC needs no introduction as a reference in international business and financial news, and this multi-faceted partnership will offer the team and its partners an enviable commercial development opportunity.

With the participation of RacingBusiness.fr