Crisis hits another major F1 backer Monday 20 Oktober at 18:42 : Oct.20 (GMM) A second major formula one sponsor has hit the headlines amid the fallout of the global financial crisis
We reported last week that Williams backer the Royal Bank of Scotland (RBS) was bailed out by the British government, which could result in the winding up of its sports sponsorships
It is now emerging that the Dutch bank ING, F1 team Renault's title sponsor, will receive 10 billion euros from the Dutch government amid concerns it might collapse this week
ING shares in Amsterdam plummeted 27 per cent last Friday as the bank announced it expected to record massive losses
Shares soared by nearly 19 per cent upon announcement of the news on Monday |
