MUMBAI: Tata Communications, Formula 1’s connectivity partner has ended its sponsorship agreement after an eight-year association, effective December 31 2019. The sole The telecom giant’s exit has also ended Indian presence on the F1 grid.
“Yes, both Tata Communications and Formula 1 have ended their partnership. The sponsorship deal ended on December 31,” a source close to the Indian company told PTI.
The Pune-based provider of telecommunications solutions and services contributed significantly to sport’s digital transformation. Tata Communications has also worked extensively with champion outfit Mercedes, who have been winning the Formula 1 constructors’ title since 2014.
Besides Mercedes, Tata has also worked with Williams, as recently as last season.
According to Forbes magazine, Tata Communications had been paying a fee which rose to an estimated annual figure of around $4 million after first entering the partnership in 2012.
“We have decided to bring to a close our marketing partnership with F1 and explore other platforms that will allow us to showcase the full power of our digital services to our key customers,” a spokesperson for Tata Communications told the magazine.
“We started this partnership in 2012 with the mission to digitally transform the sport whilst raising awareness of our global networking expertise amongst our enterprise customers. Our eight-year F1 journey, spanning 150+ races, was all about driving innovation in the sport.
“Over the years, we have evolved our services portfolio and capabilities, and – as we had achieved what we set out to do – we feel it’s the right time for us to conclude this marketing partnership.”
The spokesperson continued: “We’re proud of the fact that for eight years, we played a central role in the digital transformation of F1 and its entire ecosystem: enabling the organisation that runs the sport, Formula 1, to innovate; helping the reigning world champions Mercedes-AMG Petronas Motorsport to win; and working with 20+ broadcasters to bring the action to millions of fans worldwide.
“Our work in F1 also paved the way for new customer relationships with leading broadcasters like Sky and Star Sports – to which we remain committed. It was a joy and privilege being part of the greatest sporting spectacle on the planet.
“While our marketing partnership concluded on 31st December 2019, we continue working with many of our F1 customers and partners behind the scenes for now.”
Interestingly, Tata Communications has chosen not to end a similar deal it has in place with MotoGP as well as the World Rally Championship (WRC).
Under new owners Liberty Media, which took over in January 2017, Formula 1 has embarked on an intense digital journey in times when more people are live streaming race content than watching it on television.
The departure of Tata Communications means Formula 1 has now lost three major sponsors in the last three years. Insurance company Allianz and investment bank UBS were the other major companies to sever ties in this period.
