Fiat to sponsor Yamaha and Rossi

UPDATE This rumor is upgraded to 'fact' with today's announcement. See Hot News page for announcement.

01/29/07 Rumors in the Italian press say that Italian car company Fiat is close to signing a deal to sponsor Yamaha's MotoGP team and Valentino Rossi.

Although an Italian car manufacturer supporting a Japanese motorcycle racing team may seem a bit odd, Fiat is eager to use Rossi's enormous popularity to help sell its new 500 model in Italy – and, according to the Italian press, a two-year contract is now 'on the table'