Airtel announced as Title sponsor of Indian Grand Prix

Airtel is finally announced as Title Sponsor of Inaugural Indian Grand Prix

As we earlier mentioned which was only a speculation at that time has now become reality. It is true that Airtel has signed up as the 'title sponsor' of the Indian Grand Prix. The news was confirmed and announced on Thursday. Click here to read our earlier news

So, with the deal being signed off and Bernie in town, it looks pretty sure that we are about to witness the first ever F1 Grand Prix in India...

As the Homologation is about to be done on September 1, being the fact it is almost a month late than the stipulated date. But still Bernie Ecclestone made it clear that the progress is monitored on daily basis and it is almost certain to have the race.

“It will take two or three years for F1 to catch up in India. It will not match cricket, but we will try to get very close'', said Ecclestone.

The company however did not disclose any financial details of the agreement. "Such events do not come cheap, we see value for investment. A leader like us must take lead for a sponsorship like this," Kapoor said.

The company said it will come up with a host of additional offerings, including F1 exclusive mobile applications, and initiatives for customers in the weeks ahead to promote the event. But it didn't give out the details.

"Lot of new offerings await as we build up momentum to the finals."

However, no financial statement has been made yet, but from our earlier report:

Airtel's sponsorship for the Indian Grand Prix title rights have been rumoured to be in the region of $13-14 million per year for 5 years. The title rights would mean that the Indian Grand Prix will now be called as the 'Airtel Indian Grand Prix' across all media and communication. Additionally, they will have a larger percentage of on-track advertising and access to hospitality areas and passes for their key guests.

Sponsorship of the Indian Grand Prix is not Airtel's first entry into international sponsorship. They are partners with the famous Manchester United club and own mobile rights that they broadcast to their million plus subscribers in India and abroad.

Airtel had previously sponsored the Airtel One India Challenge, which was an all-India TSD rally. The rally was held almost a decade ago and was one of Airtel's biggest sponsorship in sport in India. The rally saw active participation from motoring enthusiasts, but organizational issues meant that the rally didn't repeat the next year. Due to reasons not publicly known, Airtel decided to step away from motor-sport sponsorship in the country.

Airtel is not new to F1 sponsorship. Airtel is an investor in Singtel, the title sponsor of the Singapore GP. The association with the Indian GP will enhance Airtel's global brand presence and put the Indian telecom major on the world map. Airtel's direct competitor in India, Vodafone, is the title-sponsor of the Mclaren Mercedes team. It will be interesting to see how the two companies fight in their space to occupy the mindsets of the Indian F1 fan.