ING confirms Renault title sponsorship.

As expected, the ING Group has confirmed that it is to replace Mild Seven as title sponsor of world champion Renault F1, having inked a three-year deal with the Anglo-French operation.

As usual in these cases, financial details of the agreement were not disclosed, but the deal introduces another new brand to Formula One following the outlawing of tobacco sponsorship - a trend widely predicted when pressure was first put upon the cigarette manufacturers. ING, however, is making its entrance to the sport in the biggest possible way, having also agreed a trackside sponsorship deal for several grands prix with Allsport Management.

The attraction of F1 to ING - one of the world's largest financial service providers - is obvious, as it has operations in 15 of the 17 confirmed grand prix venues for next season, and will benefit from the worldwide television exposure offered by the sport. However, the multi-national, which has its roots in Holland, intends to make the most of its new relationship by launching an integrated branding and marketing campaign designed to strengthen the brand even further.

"The Renault F1 team [is] associated with teamwork, winning performance and achieving permanent progress, which fit well with the positioning of ING," a company statement announcing the sponsorship explained, "ING is convinced that teaming up with the Renault F1 team will significantly raise ING's global brand awareness around the world."

The association with Renault, and with Allsport, is ING's first involvement in motorsport, the company having previously chosen to focus its sports sponsorship activities on running. It has sponsored a selection of events, both major and minor, around the world, based on the sport's universal appeal, with the ING New York City Marathon the pick of the bunch.

The company apparently opted to back Renault over and over several of the Enstone squad's major rivals, including McLaren and Ferrari, and adds to the new Dutch flavour of Formula One, following Spyker's acquisition of Midland MF1. The company colours also incorporate the national sporting hue of orange, but it remains to be seen how much of an influence the scheme will have on Renault's 2007 livery, which is expected to continue with Renault's traditional yellow, but swap the light blue of Mild Seven.

"We are delighted to welcome ING to Formula One as our title sponsor," team president Alain Dassas commented, "This is an important agreement for the growth and development of the Renault F1 team, providing long-term stability that reinforces our long-term commitment to the sport. We look forward to a fruitful, win-win relationship with this respected financial institution."