UBS chief executive Oswald Grubel reportedly wanted to take the sponsorship of the Swiss bank to a formula one team.<\/p>\n
Grubel, who previously brought Credit Suisse into the sport with Sauber, was eyeing a similar deal for UBS now that he is in charge of the Zurich based global financial services company.<\/p>\n
But according to Switzerland’s Blick newspaper, the UBS board voted against the plan, agreeing instead to become a sponsor of the entire sport in a deal that was announced on Monday.<\/p>\n
Industry insiders estimate the value of the deal at EUR 40 million per year.<\/p>\n
“In line with all commercial contracts, the financial terms will not be disclosed,” said a spokesman.<\/p>\n
“Commercial attractiveness was however a key consideration for UBS and the agreement compares favourably with other forms of brand awareness and client hospitality.”<\/p>\n
Blick said Grubel’s plan-A had been to once again link up with Peter Sauber’s independent Hinwil based team.<\/p>\n
UBS spokesman Peter Hartmeier would not say where the company’s logos would be seen at grands prix, except that they could be “in places where previously there was no advertising”.<\/p>\n
\u00a9 RIF | GMM<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" UBS chief executive Oswald Grubel reportedly wanted to take the sponsorship of the Swiss bank to a formula one team. Grubel, who previously brought Credit Suisse into the sport with Sauber, was eyeing a similar deal for UBS now that he is in charge of the Zurich based global financial services company. But according to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[3],"tags":[5262,5340,2152,114,2145],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/8004"}],"collection":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/comments?post=8004"}],"version-history":[{"count":1,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/8004\/revisions"}],"predecessor-version":[{"id":8005,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/8004\/revisions\/8005"}],"wp:attachment":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/media?parent=8004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/categories?post=8004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/tags?post=8004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}