03 November, 2006

Australia: Foster’s gives up upon the title sponsorship of the Australian Formula 1 GP for the 2007 season

Foster’s will cease to be the title sponsor for the Australian Formula 1 Grand Prix as the brewer is going to be replaced by financial services firm ING for the 2007 season.

The partnership, inked for an undisclosed sum, follows Fosters pulling out of its Formula 1 sponsorship activity, which also includes the San Marino Grand Prix, after the sale of the brand to Scottish & Newcastle.

Next year's Australian Grand Prix will once again take place on March 18 2007 at Melbourne's Albert Park circuit, where it has been staged for the previous 11 years.

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