Sponsorship and Sports – The ING Example: Running & Formula One

Sponsoring is one of the ways to build andRenault F1 sponsorship after Fernando Alonso
fortalice a brand. And sport is always a good(from Spain) switches from Renault to the
target. But sport it not the only target.McLaren team).
Sponsorship at ING consists of three mainING is a company that is both a (investment)
programmes: sports, art and culture, andbank and an insurer.According to ING, ...ING has
community development. states the ING sponsorselected Formula 1 as a strong platform from
policy. (which to build global brand awareness ... The
menopt=spr&docid=074368_EN&lang=EN)Runningopportunities this agreement provides include
has been ING's main target for sponsoring sportsvirtually year-round global exposure. Grand Prix
events; because it is a sport of universal appeal,races take place in 17 countries, of which ING is
practiced by and accessible to millions of peopleactive in 15. Formula One attracts 850 million
across the globe ... One of the largest events intelevision viewers per year. In difference with
our programme is the ING New York Cityrunning, Formula One (sponsorship) is a lot more
Marathon.Running is one of the healthiest sportsrisky. Not only for what happened to Ayrton
there is, healthy in many senses: it is a sport thatSenna. But Formula One is a more controversial
can be practiced indoors, in nature, on the streetsport than Running, maybe not as controversial as
(New York) and nearly everybody can join and itBull fighting, but there are people who are against
doesn't require any fuel.Only recently, ING addedit.As ING is a Bank as well as an Insurer, I would
a new sport to its sponsorship portfolio and thatsay that running would fit better with the insurer's
is Formula One, by sponsoring the Renault F1.image, the Formula One more with the
Renault has been looking for a new sponsor as(investment) bank image.© 2006 Hans
the tobacco sponsors (Mild Seven) are bannedBoolHans Bool is the founder of Astor White a
from the (F1 and therefore television) stage.traditional management consulting company that
There is also uncertainty about Telefonica; theoffers online management tools.
Spanish Telecom company that could leave