Tuesday, September 27, 2011

Formula 1 Marketing(Indian Grand Prix)

There are no confirmations from companies on the figures,sources in the Indian Grand Prix circuit say title sponsor Airtel has spent around Rs. 30 crore for three seasons spread over three years. Alongside Airtel,the other big sponsors include Red Bull(which will bring everything from its aero models to its bikers and all that they have in the name of adventure to India by September end),UB group(which owns Force India and is the only Indian team in F1),Mercedes Benz,Shell,Renault,Castrol,JK Tyre,Vodafone,Tag Heuer,Helix.Many companies that haven't signed up as official sponsors are now joining the fray in a slightly different capacity.Hero Motors,for instance,has signed up with Narain Karthikeyan who will drive his Hispania car at the Indian Grand Prix.

TICKETS
The track owners JPSI has spent $400 million on building the track and stadium alone.Given that there are around 100000 odd tickets for sale-already the lowest denominations,worth Rs.2500 and Rs.6000 are sold out,says Sameer Gaur,MD of JPSI-the gate money should be in the region of around Rs.1000 crore.The platinum boxes,worth Rs.50 lakh,have been booked by corporates like Citi,Venky's.Kingfisher and JK Tyre not to mention some of the top business names in the country.Top of that heap though will be the box gang opposite the grand stand with a cool tag of Rs 1 crore.Of course even with all our billions you may still not be eligible for the Paddock club,the most exclusive club in the F1 firmament.Entry costs $4500 apiece but just buying a ticket doesn't ensure you are chosen-that's left to Bernie Ecclestone and the boys who run FOM(Formula One Management)to scan your application and then take a call.
It's not just tickets which are disappearing;even hotel rooms in vicinity are sold out.

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