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Motor racing-Ferrari buck trend with Tata sponsorship

Motor racing-Ferrari buck trend with Tata sponsorship
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First Published: Wed, Dec 17 2008. 06 33 PM IST
Updated: Wed, Dec 17 2008. 06 33 PM IST
Rome: Ferrari have bucked the global economic crisis squeezing Formula One by agreeing a sponsorship deal with Indian carmaker Tata.
“For the first time an Indian brand will appear on the Ferrari,” president Luca di Montezemolo told Italian media. “It’s historic.”
A Ferrari spokesman confirmed a deal had been reached and said the details and duration would be announced shortly.
Tata and Ferrari’s parent company Fiat have a joint venture in the Indian state of Maharashtra to produce cars.
Formula One approved a package of cost-cutting measures last week to help the sport after the economic crisis led to Honda’s withdrawal.
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First Published: Wed, Dec 17 2008. 06 33 PM IST
More Topics: Motor racing | Formula One | Ferrai | Tata | Honda |