Lada Confirms Renault Sponsorship!

What was announced through the voice of Russian Prime Minister Vladimir Putin was confirmed earlier today, when Genii Capital-controlled Renault F1 Team has confirmed a partnership with Lada for the 2010 season of Formula One.

“The Renault F1 Team today confirmed a cooperation agreement that will see branding from Lada, Russia’s leading automotive marque, feature on the chassis of the Renault F1 Team R30 race cars during the 2010 season. This landmark agreement was formally signed in Moscow last Monday, March 1. Russian Prime Minister Vladimir Putin also gave the agreement his public endorsement,” said an official statement from the Enstone based team.

Lada is controlled by Russian carmaker AvtoVAZ, whose 25 percent of the company has been bought by Renault in 2008. The deal was obviously signed as a way of Russia being involved in the backing of their 25-year old driver Vitaly Petrov, the first ever Russian racer to set foot in the series. Consequently, the Lada logo will appear not only on Renault's R30 this season, but also on Petrov's overalls.

“We are proud to announce this new agreement, which marks another important step for the Renault F1 Team and Formula 1 in Russia,” said Renault F1 Team Chairman Gerard Lopez, also Genii Capital boss.

“Through Mangrove Capital we have been actively investing in Russia over the last years. We know the country well, we have a high degree of appreciation for it and, as such, it is an honour for our F1 team to spearhead Russia’s entry into the sport and to carry the Lada brand at the highest level of world motorsport. We look forward to an exciting and successful season together,” added Lopez.