Emirates Announces Five-Year Deal with F1

Emirates airlines announced a five-year sponsorship deal with Formula One valued at $180 million on Tuesday in the latest sign of the growing influence of the oil-rich, Gulf nations on the sport.

Formula One boss Bernie Ecclestone said the Dubai-based airline's sponsorship deal includes 15 races this season starting in Malaysia.

It will not sponsor the Australian, Monaco, Bahrain nor Abu Dhabi Grand Prix. Ecclestone did not disclose the value of the sponsorship deal, but a source familiar with the agreement, who was not authorized to comment publicly, placed the value at $180 million.

"I'm obviously very proud to be associated with Emirates, the sort of brand that should be with us and us with them," Ecclestone told a media conference in Dubai. "We like to feel we are associated with the top corporate (brands), which we are obviously are with Emirates. The teams will benefit. It lifts everyone in Formula One."

The deal is part of Emirates efforts to spread its reach globally and is just the latest sponsorship deal involving a major sport.

It already is an official partner with FIFA and recently signed a five-year deal with the ATP which begins this year. It also comes days after new five-year shirt sponsorship deal with Paris Saint-Germain, the big-spending French football team that signed David Beckham.

"This is an exciting global opportunity to align two world leading brands," said Sheikh Ahmed bin Saeed Al-Maktoum, Emirates chairman and chief executive. "The ambition, cutting-edge technological standards and worldwide reach of Formula One go hand in hand with Emirates' vision and ambition."

Emirates is also the latest Gulf company to lend its name to Formula One, which is popular in a region known for its love of fast cars.

Gulf Air sponsors the Bahrain Grand Prix and Etihad the Abu Dhabi Grand Prix. Bahrain Mumtalakat, a sovereign wealth fund based in Bahrain, also has 42 percent stake in F1 constructor the McLaren Group.

Ecclestone on Tuesday ruled out a 20th race on the 2013 calendar, putting an end to speculation that Turkey or another European country is in line to host a Grand Prix this year.

He said it was impossible to add another race "at this late stage."

There was speculation a European race would replace the Grand Prix of America.

The leading contender to fill the spot was Istanbul, which was dropped from the F1 calendar in 2012 after a disagreement with Ecclestone over the fee charged to stage the race. Portugal has also been mentioned in recent months as another candidate.

"Disappointed it didn't happen before," he said of the 20th race. "You can't suddenly slot it in."

Ecclestone also said he was "100 percent" confident that the Bahrain Grand Prix would go ahead despite ongoing unrest in the Gulf nation, adding that he "hoped things were a little more peaceful" this year.

The Bahrain Grand Prix was run without incident this year, although it was a public relations disaster for F1. Sectarian violence rocked the streets of Manama causing death and injury during the race weekend, and created a disturbing background for the race which was won by Red Bull's Sebastian Vettel.

"I haven't seen the kind of troubles we experienced at this time last year," Ecclestone said.

The F1 boss also ruled out bringing a 12th team onto the grid in 2013, putting to rest talk that a group of Canadian and American investors would have a team to replace HRT, which can't afford to compete this year.

As for another Persian Gulf race in Dubai or Qatar, Ecclestone said it would be "difficult to pop another one in there" given F1 is limited to 20 races.

Ecclestone said he was confident there would be 20 races in 2014, confirming that Russia will stage its first F1 race in Sochi. After visiting Sochi this week, Ecclestone said "everything seems to be good" in terms of preparations. Sochi will also host the 2014 Winter Olympics.

"He (President Vladimir Putin) seems delighted with the Olympics and Formula One," Ecclestone said. "It was good. I was very impressed with what they have done."