Saudi Oil Group Aramco Sponsors Formula One
Saudi oil giant Aramco has signed on as a global sponsor of Formula One, the firm said, in a move seen as part of the conservative kingdom's drive to soften its international image.
"Aramco, the world's largest integrated oil and gas company, today announced a long term global sponsorship with Formula 1," the company said, announcing its first ever major sports sponsorship deal.
Under the deal Aramco will have trackside branding rights at most races, title rights to the US, Spanish and Hungarian Grands Prix in 2020 as well as brand exposure through broadcast and digital platforms.
Saudi Arabia, under fire over human rights abuses, has accelerated investment in glitzy sports and entertainment events in a bid to improve its reputation and boost jobs and investment in the sectors.
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