Formula 1 announced on Tuesday a new long-term global sponsorship deal with Saudi Arabian energy group Aramco.
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The deal will see Saudi Aramco become the sport’s sixth global partner alongside well-known sponsors DHL, Emirates, Heineken, Pirelli and Rolex.
In a statement released on its website, F1 said that Aramco selected motorsport’s premier category for its “dynamic appeal and growing global fan base”, while F1’s international platform will connect the giant oil and gas producer to “an engaged audience of 500 million fans and allow it to better communicate its success stories to the world”.
F1 begins quest to become Net Zero Carbon by 2030
Anyone even remotely in tune with the world’s business affairs might be struck by F1’s partnership with a company that is also the world’s single biggest contributor to greenhouse gases, or in other words, the world’s biggest polluter.
F1’s deal with the state-owned giant comes just a few months after it announced a comprehensive sustainability plan and green campaign that will lead to the sport having a net zero carbon footprint by 2030.