Bharti Airtel has been selected as the title partner for the Indian Formula One. F1 sees huge following with more than 500 million fans. Previously known as the Buddh International Circuit (Noida) the 60-lap race this October will be known as the Airtel Grand Prix of India.
F1 cars are amongst the fastest circuit-racing cars that can reach 360 kmph. Bharti Airtel looks at this association to connect to the youth in India. President and CEO of Formula One Management, Bernard Charles ‘Bernie’ Ecclestone does look forward to motor racing being a bigger game in the next 2-3 years.
F1 races as we know generate revenue to the tune of millions of dollars, and that will be a great thing for India. Bharti Airtel has not divulged financial details of their title sponsorship ‘lifetime’ contract valuation but market estimates though not conclusive point to $ 5 – 15 million annually. Worldwide, it has been seen that about 30% of F1 audiences travel for race weekend. Further details about the Indian Grand Prix will be available on 20th August when details regarding ticket availability are supposed to be released. Obviously that is a focal point at the moment with F1 enthusiasts checking in everyday for F1 ticket availability for the newly christened Airtel Grand Prix of India.
In context to picking Airtel as the title partner, Bernie’ Ecclestone had this to say. “They want to connect with the youth. The F-1 in India also wants to do the same.” “We got to remember that India is one of the top-five most important countries in the world today. So, for us, it’s extremely important to be in India as much as any other country in the world. So when I came here first, I was a bit surprised having not been in India before.”