Etihad Airways has signed a four-year extension of its title sponsorship of the Formula One Abu Dhabi Grand Prix in a multimillion-dollar deal.
"This sponsorship extension goes against the current commercial trend of shorter sponsorship terms," James Hogan,the chief executive of Etihad Airways, said yesterday.
"We have seen that F1 is a highly effective vehicle, no pun intended, for promoting the values of the Etihad brand and showcasing our home city of Abu Dhabi to a massive global audience."
Bernie Ecclestone, the chief executive of the Formula One group, said the event gave Abu Dhabi and Etihad Airways exposure to a global audience of more than 500 million F1 fans.
"The influx of visitors travelling to Abu Dhabi also brings a direct economic benefit, with over 20,000 people pouring into the UAE for the event, representing tens of millions of dollars for the local tourism industry," said Mr Ecclestone.
Etihad has been title sponsor for the event since the inaugural Formula One Etihad Airways Abu Dhabi Grand Prix in 2009. The four-year deal is effective through to the 2015 event.
