23/01/08 Sponsorship deal for ING Renault F1 team gauteng provincial government contract
Sponsorship Deal
Essentially Group Ltd (AIM: ESN.L), the full service sports marketing agency, is pleased to announce that it has brokered a partnership (the "partnership") between the ING Renault F1 Team, a high profile client of Essentially,and the Gauteng Provincial Government ("Gauteng"), South Africa’s largest province incorporating Johannesburg and Pretoria.
The deal involves the promotion of Gauteng through direct sponsorship of the ING Renault F1 team, culminating in an F1 street event in Johannesburg scheduled for 27 July 2008. The partnership will also feature a competition to be run throughout the Gauteng Province that will offer a chance for one South African winner to drive the ING Renault F1 Team 2007 race car in England in June 2008.
Essentially has a multi year marketing and sponsorship agreement with the ING Renault F1 team and brokered the sponsorship agreement with Gauteng under its appointment. The contract is for an initial one year term with an option to extend for a further two. Gauteng intends to use this new partnership as a platform for increasing its international profile, and generating further inward investment into the region.
The ING Renault F1 Team, which recently signed Fernando Alonso on a two season contract, attracted over 80,000 spectators to its roadshow event in Johannesburg’s Sandton suburb in July 2007. Renault already has a strong presence in the region, and has recently announced that the new Renault Sandero will be produced in South Africa from 2009.
Commenting on the deal between ING Renault F1 and Gauteng, John Byfield, Chairman of Essentially said:
"With this deal we have provided ING Renault F1, one of the highest profile F1 teams in the sport, with a partnership with one of the most innovative and forward thinking regions in the world, whilst simultaneously increasing the visibility of earnings for Essentially. Gauteng is rapidly becoming a global centre for international sport and we look forward to furthering the partnership in maintaining this success for years to come. This contract represents the start of a wide reaching commercial partnership which we believe will realise significant value for Essentially and its shareholders in the medium term".
Flavio Briatore, Team Principal and Managing Director of ING Renault F1 Team, added:
"Essentially’s brief is to find sponsors which have ambitions to become key partners with the ING Renault F1 team over the next few years. Gauteng is such a partner. We are delighted with this innovative relationship which Essentially has helped us to build with a regional Provincial Government which is successfully transforming the region into a global centre of excellence in motor and other professional sports in addition to being Africa’s leading financial centre."
For further information please contact:
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Essentially Group Ltd.
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Telephone numbers: |
John Byfield / Bart Campbell
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+44 (0)1534 485626 or +44 (0)20 78207051
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Evolution Securities
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Bobbie Hilliam / Chris Sim
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+44 (0)20 7071 4300
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Buchanan Communications
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+44 (0)20 74665000 |
| Bobby Morse / Susanna Gale |
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