04/10/2006
NEWS STORY
Pitpass hears that Renault is on the verge of announcing a major sponsorship deal with Dutch bank, ABN AMRO.
In the wake of the departure of current title sponsor, the tobacco company Mild Seven, we hear that ABN AMRO has signed a new multi-season deal to take over as title sponsor.
Although details of the new deal are somewhat sketchy, and unconfirmed by either party, Mild Seven's sponsorship was worth a reputed $50m (£26m) a year.
Anti tobacco laws mean that all tobacco advertising in F1 is illegal at the end of this year.