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Saudi Aramco pays tens of millions annually for F1 sponsorship deal
When the Formula 1 circus arrived in Melbourne a few weeks ago, they were welcomed at the Albert Park circuit with large Saudi Aramco billboards above and next to the circuit. A deal that was only announced just before the original start of the season. By now it is clear how much money is involved. As one of the world's largest oil and gas companies, Saudi Aramco will annually transfer nearly 40 million euros to Formula 1 to obtain the rights as a 'partner' of the sport, reports SportBusiness.com. This is a ten-year deal. Until 2029, Formula 1 can therefore count on a financial injection of almost 400 million euros. Read more Vettel not afraid of Verstappen: 'Youngest world champion or...
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