UAE F1 race gets shot in the arm
The National Bank of Abu Dhabi (NBAD) yesterday signed a signed a three-year sponsorship deal with the Yas Marina Circuit, which is getting ready to stage the 2009 Formula 1 Etihad Airways Abu Dhabi Grand Prix on November 1.
Abdullah Mohammad Saleh Abdul Rahim, NBAD's Group Chief Operating Officer, who signed the deal with Richard Cregan, CEO, Abu Dhabi Motorsports Management, said it was the biggest sports deal for the bank.
"Sponsoring Yas Marina Circuit activities for three years and securing the title of Official Bank of the 2009 Formula 1 Etihad Airways Abu Dhabi Grand Prix is a tremendous honor for NBAD. We believe this will further strengthen NBAD's association with world class events and enable the bank to increase its reach to global audience," said Abdul Rahim.
NBAD, which has a budget of Dh47 million for social activities including sports in 2009, has earmarked another one per cent from its profits for the same.
"Since its inception in 1968, NBAD has been committed to the service of UAE society. This pledge emanates from our belief that social responsibility is one of the pillars which underpin our success as a responsible financial institution" he added.
"NBAD is part of the DNA of Abu Dhabi. This move confirms our commitment to serving and building Abu Dhabi and the wider UAE nation by supporting milestones events and financing projects in different economic sectors to achieve Abu Dhabi Vision 2030," he said.
Cregan said: "It is fitting to have such a partnership not only for the Formula 1 race but also for the Yas Marina Circuit. Both ADMM and NBAD have similar targets in promoting Abu Dhabi.
"We are confident that this sponsorship platform can provide NBAD with an opportunity to leverage significant marketing and business opportunity," he added.
David Warren of Allsport Management said, "By supporting the Grand Prix the National Bank of Abu Dhabi has secured a year-round association with the Yas Marina Circuit," he said.