Formula One team Scuderia Ferrari Marlboro has renewed its technical and commercial partnership with Shell for a further five years.
As part of the deal, Ferrari will continue to use Shell fuel and lubricants in its Formula One cars, as well as carrying prominent branding on the vehicles' liveries and on team apparel. Based on details of previous agreements, the deal is likely to be worth around US$32 million a year.
Ferrari team principal Stefano Domenicali was effusive in his praise of what he described as "a unique partnership in the history of motor sport." He said: "The extension of our relationship with Shell up to the end of 2015 is yet another step in the Scuderia’s plan to strengthen its long term future and is also a clear sign of continuity and the confidence placed in Ferrari by a company that is a world leader in its field. Shell has been with the Scuderia from the year it was established in 1929 and has played a significant role in many of our successes."
The announcement of the renewal has been timed to coincide with the 450th Formula One Grand Prix that Ferrari has raced using Shell fuels and lubricants.