Left Menu
Development News Edition

Tata Communications ends partnership with Formula 1


Tata Communications ends partnership with Formula 1

The sole Indian presence on the Formula 1 grid has ended with the sport's connectivity partner, Tata Communications, deciding to end its sponsorship agreement after an eight-year association. A source close to the Indian company confirmed the development to PTI.

"Yes, both Tata Communications and Formula 1 have ended their partnership. The sponsorship deal ended on December 31," the source said. The Pune-based provider of telecommunications solutions and services contributed significantly to sport's digital transformation. Tata Communications has also worked extensively with champion outfit Mercedes, who have been winning the Formula 1 constructors' title since 2014.

Besides Mercedes, Tata has also worked with Williams, as recently as last season. Under new owners Liberty Media, which took over in January 2017, Formula 1 has embarked on an intense digital journey in times when more people are live streaming race content than watching it on television.

In 2018, Formula 1 introduced a television subscription streaming service with an aim to engage 500 million fans worldwide. Tata was the sole remaining Indian presence in the sport following the unceremonious exit of Vijay Mallya from Force India (now called Racing Point) in 2017.

The last Indian to race in Formula 1 was Narain Karthikeyan who drove for the defunct HRT squad in 2012. The only other Indian to have reached the pinnacle of motor racing is Karun Chandhok. India hosted a Formula 1 race for three years (2011-2013), at the Buddh International Circuit in Greater Noida, before it was dropped from the calendar due to financial and taxation issues.

According to Forbes magazine, Tata Communications was paying Formula 1 USD 4 million annually as part of the deal.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...

SDG2030: Challenges of technological applications in advancing Global Goals

Application of contemporary and future information technologies may go milestones in advancing sustainable development goals SDGs provided the challenges are overcome and implementation is ensured....

Videos

Latest News

Australia to screen some flights from China, warns coronavirus difficult to stop

Australia will begin screening passengers arriving from a Chinese city in a bid to stop the spread of a new coronavirus, the countrys chief medical officer said on Tuesday, although authorities warned that an outbreak would be hard to preve...

HIGHLIGHTS-Tennis-Day two at the Australian Open

Highlights of the second day at the Australian Open, the first Grand Slam tournament of the year, on Tuesday times AEST GMT11 1049 PLAY UNDERWAY EARLYPlay got underway early on the second day on the outside courts after a number of matches ...

UPDATE 6-Trump lawyers call for immediate acquittal in legal, political defense

U.S. President Donald Trump on Monday rejected the Democratic-led House of Representatives impeachment charges and called for their immediate dismissal by the Republican-led Senate in a memo offering a legal and political case against his r...

Pompeo meets Juan Guaido, hails his 'tireless efforts to restore democracy in Venezuela'

US Secretary of State, Mike Pompeo on Monday local time met Venezuelas opposition leader Juan Guaido and termed his tireless efforts to restore democracy in the country as an inspiration. Honored to meet Interim President JGuaido at the 3rd...

Give Feedback