Aston Martin F1 team seals Aramco sponsorship deal

Oil and gas company Aramco has signed a name sponsorship deal with the Aston Martin Formula 1 team, it was announced on Thursday.

The "long-term strategic partnership" means the British squad will be known as Aston Martin Aramco Cognizant Formula 1 Team from now on.

The deal includes sponsorship rights, a licensing agreement, and joint research and development of sustainable fuels, advanced lubricants and non-metallic materials in vehicles, according to a team statement.

Saudi Arabian oil giant Aramco already has an agreement with Formula 1, with its trackside advertising visible in several races over the course of the season.

"We are in the sport to win so I am delighted to welcome an incredible partner of the stature of Aramco, who I have learnt from this process has a tremendous amount of intellectual property and technical capability, which I know will greatly assist our team to achieve our goals of winning Formula 1 world championships," team owner Lawrence Stroll said.

"Our historic partnership demonstrates the scale of our ambition to make our team a pioneering and winning force in Formula 1 and showcase the sustainability and performance of Aramco's products."

Pit straight detail, including Aramco signage

Photo by: Steven Tee / Motorsport Images

Aramco's senior vice-president Mohammed Al Qahtani added: "The partnership reflects Aramco’s efforts to reduce emissions in the global automotive and transport industries.

"Our ambition is to supply premium fuels and lubricants to the global automotive sector, and our tie-up with the Aston Martin team will help drive awareness of our high-quality products.

"It is an alliance that harnesses our shared commitment to engineering excellence and innovation, and has the potential to deliver winning results both on and off the track."