In brief: F1 secures $200m sponsorship deal
Published 24/08/2010 | 05:00
FORMULA One has staged a multimillion pound fightback from recession by signing Europe's second-largest bank as a sponsor.
Teams returning from a two-week summer break yesterday will be hoping that the five-year, $200m (about €157m) deal with UBS is a signal that the financial sector is ready to invest in the sport again.
But there is no cash for the 12 teams. UBS will become a Formula One partner, with rights to track signage and use of the Formula One brand, instead of putting its name on the side of a car.
The deal is with Bernie Ecclestone, the chief executive of the commercial rights holder CVC Capital Partners, a Luxembourg-based private equity group. UBS was bailed out by the Swiss government during the financial crisis. The bank said last week they were launching an advertising campaign to woo back clients after posting strong results earlier this year.
Jimenez ready to fight for Ryder spot
IF Miguel Angel Jimenez fails narrowly to qualify for a place in the Europe Ryder Cup team, it will not be for the want of trying.
The Spaniard has responded to the call of Colin Montgomerie, the captain, and committed to playing in the Johnnie Walker Championship, the final counting event that gets under way at Gleneagles on Thursday.
Jimenez lies in the ninth and final spot in the standings for the contest at Celtic Manor in October and could be supplanted this week by one of two Englishmen -- Ross McGowan and Simon Dyson -- or Alvaro Quiros, a fellow Spaniard.
To displace Jimenez, McGowan would need a top-two finish and only a victory would suffice for either of the other two players.
Deignan gets nod for Vuelta assault
Letterkenny's Philip Deignan has been confirmed as part of the Cervelo TestTeam and Footon-Servetto for the Vuelta a Espana, which starts in Seville on Saturday, writes Tommy Campbell.
Deignan will play a key role for Carlos Sastre and Thor Hushovd, both main players on the team of nine for the last Grand Tour of the season.
Sastre intends having a podium finish in his last Grand Tour with the team before moving to Geox at the end of the season.
Deignan, who won a stage and finished ninth overall in last year's Vuelta, came through a very testing four-day race in France last week. Prior to that, he had been plagued with injuries this season but all looks to be okay as of now.
Cervelo TestTeam for the Vuelta a Espana -- Philip Deignan, Carlos Sastre, Theo Bos, Inigo Cuesta, Stefan Denifl, Xavier Florencio, Thor Hushovd, Oscar Pujol, Xavier Tondo.