Ferrari sponsors to pay $4.7m to Force India
Etihad plane, Abu Dhabi Grand Prix, Sunday Pre-Race Grid, 01.11.2009 Abu Dhabi, United Arab Emirates / Copyright: Charniaux / xpb
November 5, 2009 4:50 PM
Filed Under: F1
Abu Dhabi companies Etihad Airways and Aldar Properties have been ordered to pay $4.7 million to Force India.
The sponsors, having agreed a three-year deal worth $20m in 2007 when the Silverstone based team was known as Spyker, were found to have breached contract when they switched to Ferrari a year later.
In the London High Court proceedings, Etihad argued conflict with Kingfisher, the brand owned by Vijay Mallya, the Indian billionaire who bought Spyker and renamed it Force India.
Judge Gray heard that Mallya actually promoted the beer arm of Kingfisher rather than the airline, and said the compensation owed by Etihad/Aldar would have been higher had Force India not found replacement sponsors.
Comments
Ahahaha they pulled out of the deal because they couldn't have alcohol advertised on the same car...Keep up those good business decisions based on 1500 year old rules. Doomed i say once oil runs out, or the world gets tired of paying for it.
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