Tata, the Indian firm that owns Jaguar and Land Rover, has agreed to sponsor the Ferrari F1 team from next season.
"For the first time an Indian brand will appear on a Ferrari," said Ferrari chief Luca di Montezemolo.
There’s no official word on how much money the Indian conglomerate will invest in Ferrari.
Ratan Tata sits on the Fiat board, which is where the Ferrari deal has stemmed from. Tata and Fiat already have a joint venture to produce small, cheap cars in India.
The news comes as Tata-owned Jaguar and Land Rover continues to lobby the UK government for a £1bn tax-payer bailout.
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Re: Tata to sponsor Ferrari
I can see the point of Jaguar/Land Rover asking for a payout to save jobs, but who now has the money to buy these high end vehicles. The Indians bought the companies not long ago, they should have seen this coming, let them pay. As for sponsoring Ferrari, why do not the Ferrari racing team just call themselves FIAT a much older brand than Ferrari. (FIAT are a Tata competitor.)
The next step will be Kia, Hyundai and Proton asking the UK for money because their type of car is more appropriate for buyers in a recession!
Re: Tata to sponsor Ferrari
if the UK Government are really serious about saving money, cutting red tape and reducing unneccesary personnel - why dont the Uk government sponsor Ferrari?
Re: Tata to sponsor Ferrari
In my view it's not the actual sponsor deal that is wrong, after all, they do own a percentage, BUT it's the timing - to be going cap in hand to the Birtish tax-payer and then, virtually at the same time announcing sponsorship of Ferrari, and amidst all the negative publicity about F1spending - just smacks of irresponsibility and seriously taking the rise out of us!
And, why hasn't Tata gone to the Indian Government for help? Surely this is the logical route?!
Ratan Tata is just giving us all a lesson in how to get, and stay, rich I think!
sorrel