ING to sign global F1 deal with Renault

Financial services giant ING is expected to formally sign with Formula One team Renault shortly, in a three-year global sponsorship deal worth an estimated at up to US$63 million each year.

Industry speculation has been rife in recent weeks regarding the impending deal. The decision to align with the top-tier F1 team marking the end of a twelve-month process for ING, which saw the banking group evaluate a number of global sports properties for potential association with its brand, including the FIFA World Cup, tennis and golf championships.