F1: Russia To Sponsor Renault With Lada Branding

Formula 1

F1: Russia To Sponsor Renault With Lada Branding

The first Russian driver to compete in Formula One will have sponsorship from his home country this season...

SPEED Staff / GMM | Posted March 02, 2010 GMM Newswire

Vitaly Petrov started in the GP2 series in 2006 and won at least one race in each of the last three years. In 2009 he finished second in the championship. (Photo: LAT photographic)

Russia will sponsor the Renault Formula One team in 2010 Prime Minister Vladimir Putin has announced.

Russian rookie Vitaly Petrov has been signed to race this year for the Enstone based team, which has been essentially taken over by the private equity firm Genii Capital.

The team however, retains its identity and name, and French automaker Renault's chief executive Carlos Ghosn met with Putin this week.

"We will sponsor this activity (the F1 team) as a first step, and do not rule out later increasing our financial participation in the project," the prime minister is quoted as saying in Moscow by the news agency EFE.

Putin said Renault's signing of the first Russian driver Petrov, 25, is a "great symbol of cooperation" between the French marquee and Russia.

He said the branding of Russian automaker Lada will appear on Renault's 2010 car and team.

Renault bought a 25 percent stake in Lada parent Avtovaz for $1 billion in 2008, and it is reported that Ghosn may now increase the French marquee’s involvement.

Tunnelheads, Pick Your Starters! Win Weekly! Win Monthly! Win The Championship!

ABOUT THE AUTHOR

SPEED Staff / GMM

MORE BY THIS AUTHOR

F1: Kubica Return ‘Nearly Impossible’ - Source
Robert Kubica, formerly with BMW and Renault, crashed during a minor…
F1: Lotus Relations Turned Sour - Petrov
Caterham driver claims clashes with team members lead to ouster...…
F1: Grand Prix News Briefs (Update 3)
Bernie Ecclestone has said the deal to alternate race dates in Spain…