Formula One has announced that it has signed a new long-term agreement with Liqui Moly that will see the German oil company deepen its partnership with the sport.
The sport has confirmed that it has extended its partnership with Liqui Moly after a successful first year in 2019. The German oil company has signed a deal as a Regional Sponsor for the 2019 F1 championship which will be now upgraded as Liqui Moly will become an Official Sponsor of Formula 1.
The new deal will start at the Formula 1 Pirelli Grosser Preis der Steiermark 2020 that will be the second round of the all-new F1 calendar. The partnership will run for three years to the end of the 2022 season and will include track signage at 11 Grands Prix.
Ben Pincus, Director of Commercial Partnership of Formula 1 stressed that the new agreement has been the result of the successful first year of the partnership between the sport and Liqui Moly.
“We are delighted to continue our relationship with Liqui Moly and to welcome them as an Official Sponsor of Formula 1. The fact that the partnership has grown beyond a successful first year, proves the value in terms of brand awareness and preference. We look forward to continuing to explore ways to further integrate Liqui Moly into the F1 ecosystem.”
Ernst Prost, CEO of Liqui Moly hopes that his company will benefit from the partnership with Formula 1 which can inrease its brand awarness in the long term.
“The unique reach of Formula 1 enables us to increase LIQUI MOLY’s brand awareness all around the world. Formula 1 is premium in motorsport and LIQUI MOLY is premium in oils and additives. Advertising in Formula 1 is a strong signal to both the end users and the trade. This helps us stand out from the ever-increasing background noise of the media.”