Ferrari’s new sponsor

FerrariRaikkonen and Massa have recently been seen wearing baseball caps with the words “Mubadala Abu Dhabi” on them. The company, which is owned by the governemnt of Abu Dhabi, already bought a five percent stake in Ferrari in 2005 for $138 million however a statement yesterday from Ferrari has also revealed that a sponsorship agreement has also been arranged for the 2007 Formula 1 championship.

In addition to the drivers’ baseball caps, Ferrari have stated that the Mubadal logo will feature on the 2007 car, which is due to be launched this Sunday.

Jean Todt, CEO of Ferrari, said, “We are pleased to have reached a sponsorship agreement with such a dynamic company as Mubadala, with whom we share important values such as the research into innovation and a passion for our work. Furthermore, this agreement strengthens our ties with the Emirate of Abu Dhabi, where a Ferrari theme park is being created in a State located in a region in which interest in Formula 1 is growing ever stronger.”