Scuderia Toro Rosso sign deal with Spanish oil company CEPSA – Formula 1 news
Italy-based Scuderia Toro Rosso, formerly Minardi, formally announced their decision to sign a major sponsorship deal with a Spanish oil company, Compania Espanola de Petroleos, S.A. (CEPSA) this Tuesday, September 6, 2011.
This deal is said to be implemented with immediate effect. As a consequence of which, the oil company’s logo will appear on Toro Rosso cars in the upcoming Italian Grand Prix at Monza that is scheduled to be held this Sunday, September 11, 2011.
Speaking to the press the team confirmed, “From now on, the CEPSA logo will be visible on Sébastien Buemi's and Jaime Alguersuari's race suits and on the nose, rear wing and rear wing endplates of the cars.”
This tie-up between Toro Rosso and CEPSA was the need of the hour as Toro Rosso have been struggling hard to gain financial stability and improve the infrastructure of the team.
A sponsorship deal between Toro Rosso and a Swiss bank, Falcon Private Bank already exists which was also signed in 2011, and Aabar Investments that is known to have a huge share in FPB also enjoys major ownership rights with International Petroleum Investment
Company. The latter is chaired by Sheikh Mansoor bin Zayed al-Nayhan who is also the owner of Manchester City Football Club in the English Premier League.
This strengthening of relations with Abu Dhabi is speculated to bring huge economical gains for Toro Rosso and could possibly lead to an advantage over other teams.
With this new Abu Dhabi connection and more money to spend, the team can set out to achieve its targets related to having a better infrastructure.
“To build up the team, to bring in more people and to increase the performance, you also need a little bit more money,” Toro Rosso team principal Franz Tost explained. “We are fortunately in the position that some new sponsors are on board and, along with Red
Bull, I am quite happy to have these companies on our side.”
Toro Rosso cars will now display all of their new sponsors like Falcon Private Bank, IPIC along with all the brands associated with these sponsors such as Nova Chemicals - a Canadian company.
What this fresh sponsorship agreement is also speculated to bring with it is a major change in Jaime Alguersuari's position within the team. Let’s see how they fare in the days to come.
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