Coca-Cola to replace Vodafone at McLaren?
McLaren could soon lose its title sponsor, Vodafone. However, another global company may already be in line to replace it, namely Coca-Cola, which is reportedly conducting an in-depth study on the interest of being involved in F1.
The British telephone operator became the main sponsor of the Woking team in 2007 when Ron Dennis managed to sign the reigning double world champion, Fernando Alonso. The current contract between the two partners runs until the end of the 2013 season.
If Vodafone has carried out numerous promotional operations with the two team drivers, Jenson Button and Lewis Hamilton, the economic crisis could put an end to this agreement. Thus, an article in the Financial Times cites a person close to the company who says that the agreement with McLaren « needs to be reassessed in these times of severe economic crisis. Automobile racing is still one of the few events that is popular with a global audience, which means that sponsorship can work on multiple levels in different regions and is therefore attractive to brands like Vodafone that want to expand their global reach. However, the overall sponsorship market has been affected by the global economic crisis, with some banking groups reluctant to be seen spending on events. »
According to the information presented by The Daily Express, the leaders in Woking are already pursuing another avenue, one leading to Coca-Cola. The Atlanta giant has never been present in F1, even though it once considered becoming the title sponsor of F1 as a whole in 2005. This was rejected by Bernie Ecclestone, who feared scaring off many other companies in the same sector, which might then refuse to be associated with a discipline sponsored by Coca-Cola.
We can thus think of Red Bull, which is almost the only beverage brand widely present in Formula 1, as the participation of Monster with Mercedes, EQ8 with Caterham, or Lucozade with McLaren (through the framework agreement with its parent company GSK) are far from the impact achieved by the brand with the red bull with its two teams that bear its name.
Coca-Cola is already present at the other two largest global sporting events, the Olympic Games and the FIFA World Cup, not to mention the UEFA European Football Championship. The contract for the Olympics is valued at nearly $100 million for a four-year cycle. This amount is to be compared with the $8.6 billion in profits made by the world’s largest beverage manufacturer in its last fiscal year and the $60 million paid annually by Vodafone for its agreement with McLaren…
Nevertheless, if extensive studies are implemented, it does not necessarily mean that the step will be taken and that the famous logo will be on the team’s cars led by Martin Whitmarsh.
With the participation of RacingBusiness.fr
