Mubadala extend Ferrari sponsorship

The Abu Dhabi government owned Mubadala Development Company have announced that they have extended their contract to sponsor the Ferrari F1 team to the year 2010.

The original contract between Mubadala and Ferrari was for three years and was set to expire in 2009 however the pair have agreed to extend the contract for a further year. Mubadala currently hold a five percent stake in the Ferrari team.