Meet one of Formula 1’s new sponsors, Korea’s LG Electronics. The money they’re pumping into the expensive sport hasn’t been disclosed (although it’s said to be in the tens of millions) but the odds are that it’s large, and so, the company must hope, will be the returns.
The company will also provide technology to the sport and develop consumer products with an F1 branding, according to the Financial Times.
It’s expected the deal will be similar to that obtained by Siemens, under which the company graphic appears on-screen every 20 seconds during both races and qualifiers.
