Multi-asset broker FXTM has been selected as the official sponsor of the Force India, a Formula One racing team based in Silverstone, United Kingdom, that recently inked a contract for the 2017 racing season, according to a company report.
Formula One racing has become more popular across Europe, with foreign exchange (FX) and retail brokerages opting to expand their brand name via sponsorships. FXTM’s sponsorship will last for the 2017 Formula One racing season, which will see Force India begin its winter testing as early as next week on February 27th.
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More specifically, Force India’s VJM10 will be driven by Sergio Pérez and Esteban Ocon, who replaces Nico Hülkenberg at the team. According to Vijay Mallya, boss of Force India, in a statement on the deal: “I am pleased to welcome FXTM as our latest partner just days ahead of the launch of our new car, the VJM10.”
“They see huge value in working with Sahara Force India and recognise the global exposure we will generate for their industry-leading software. The Formula 1 season will take us to FXTM’s core markets and will allow them to activate and reach a wide customer base. It’s great to have FXTM working with us and I hope we will have lots to celebrate together in 2017,” he added.