Ahead of the new 2020 Formula 1 season, Liberty Media has announced a new long-term global sponsorship deal with Saudi oil company Aramco.
DHL, Emirates, Heineken, Pirelli and Rolex are also global partners of Formula 1 but had a pre-existing agreement with the former regime run by Bernie Ecclestone.
Liberty Media has now added Aramco to the list, who will have trackside branding at most races and title rights for the US, Spanish and Hungarian Grands Prix.
“We are delighted to welcome Aramco to the Formula 1 family as a long-term Global Partner as we start our 2020 season,” Chase Carey, chairman and CEO of Formula 1, said.
“We are looking forward to sharing our combined expertise and working with Aramco on technological innovation and we will benefit hugely from its capabilities and expertise in the fuel and energy sector.”
Aramco President and CEO Amin H. Nasser added: “We are excited to partner with Formula 1, a strong global sports brand with millions of fans around the world.
“As the world’s largest energy supplier and an innovation leader, we have the ambition to find game-changing solutions for better-performing engines and cleaner energy.
“Partnerships like these are important to help us to deliver on our ambitions.”