Thursday August 23rd, 2001
The Melbourne-based global beer brand Foster's will be the new naming rights sponsor of the Australian Grand Prix until the 2006 season, it was announced on Thursday.
A worldwide partner of Formula One for many years - Foster's is already the naming rights sponsor of the British and Belgian Grands Prix - the beer brand will replace Australian airline Qantas, who had sponsored the Grand Prix for the last five years.
"It's the third leg of a 'trifecta' of Grand Prix naming rights sponsorships for Foster's and we're absolutely thrilled that we're going to be involved in such a big way with the Australian Grand Prix in our company's home town, Melbourne," said Foster's CEO Ted Kunkel.
"The Australian Grand Prix in Melbourne each March is the starting point of the FIA Formula One World Championship and is enormously important to us, and we will treat it as such."
Foster's was already the naming sponsor of the Australian Grand Prix from 1986 to 1993, when the race took place in Adeleide.
Published at 13:21:06 GMT