LG Mobile will be sponsoring the ITV coverage of Formula One motor racing in a one-year deal worth £3.5m.
The deal follows stalled talks over the company’s long-mooted shirt sponsorship deal with Liverpool football club, although a smaller sponsorship deal remains a possibility.
Both deals signal the mobile division’s intent to make the LG Mobile name noticed among its target market of young consumers. The manufacturer already sponsors cricket and snooker events, but senior figures from the mobile division are understood to have been keen to secure sponsorship of events with a younger audience.
John Bernard, LG Mobile head of marketing, said: ‘LG Mobile will be able to reach a mass audience, position ourselves as a premium brand and showcase our range of products, helping us to achieve the aggressive UK objectives that have been set for 2005.’
The Formula One calendar begins in March this year in Melbourne, with 19 races scheduled for the season. Last year’s races reached an average of three million viewers.