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Formula 1 signs Saudi oil company Aramco as global sponsor

Formula 1 has announced a ‘long-term’ global sponsorship deal with Saudi Arabia’s state-owned oil company, Saudi Aramco. Formula 1 has confirmed it has signed a new ‘long-term' deal with Saudi Aramco to become a global sponsor of the sport. This means the Saudi oil and gas giant will join DHL, Pirelli, Heineken, Emirates and Rolex on Formula 1's sponsor roster, with Amarco becoming the title sponsor of three Grands Prix in 2020 – the United States, Hungarian and Spanish races. Saudi Aramco is the world’s most valuable company, and the most profitable in the world. This follows a recent stock market listing of just 1.5 per cent of the company, which valued it at almost...
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