New sponsor for new Ferrari F1 team
Ferrari has announced it has established a sponsorship agreement with Mubadala Development Company, an investment company owned by the Government of the Emirate of Abu Dhabi, for the Ferrari Formula 1 Team.
In July 2005, Mubadala Development purchased a five percent stake in Ferrari from Mediobanca of Italy.
The Mubadala logo will feature on the Ferrari cars that will compete in the Formula 1 World Championship, as well as on the drivers' caps.
Also, Ferrari has announced the management line-up for the 2007 Ferrari Formula 1 Team with Stefano Domenicali, sporting director, and new technical director Mario Almondo holding their first media conference.
The pair both joined Ferrari on the same day in 1991 and now find themselves at the forefront of the team's 2007 campaign, under the direction of team principal Jean Todt.
Asked if Todt would be at all the races, Domenicali said "I can confirm that he will be at the tracks but maybe not right from the start of the weekend. He is still managing director, he is still the boss. I will continue to work and maintain relationships with the governing body, the staff and be chief at the race tracks and head of our own tracks such as Mugello."
Asked if Ross Brawn might come back, Almondo said "the last time I spoke to him he was fishing in Argentina. Our approach is that there's always a role for outstanding people in our team. He will always be considered part of the team, but it's up to him to decide exactly what his role will be. It's a question for Ross, not for me."