Sidepodcast - All for F1 and F1 for all

F1Minute - Bitesize Formula One news

ING announce reduction in Renault sponsorship - Projected losses mean a plan for making cutbacks

Published by Christine

ING announce reduction in Renault sponsorship
ING announce reduction in Renault sponsorship audio waveform

Today is the 26th January 2009, and this is F1Minute.

Renault’s title sponsor ING have announced they intend to spend less on Formula 1 in the future. The company is projecting a 1 billion Euro loss, and has therefore decided to reduce it’s sponsorship, as well as cutting about 35% of staff. It’s unknown what impact this will have on the team, as well as some of the circuits, as ING were a big presence in on track advertising last year.

Elsewhere today, it’s revealed that Fernando Alonso is yet another driver striving to lose weight to help the speed of the car. According to a Spanish newspaper, Alonso has shed 3.5 kilograms in just a few months, but his trainer says: "He cannot lose any more weight, because if he does he starts to lose strength and that is not what we want."

Finally, this weekend saw over 500 people at a church service in Surry to remember 50 years since the first British champion, Mike Hawthorn, died.

That’s it for today, please join me again tomorrow for another F1Minute.