Formula 1 signs up Liqui Moly to 3-year sponsorship deal

Formula 1 has added oil and lubricant company Liqui Moly as an official sponsor of F1 with a three-year deal.

The German company, a long-time sponsor in the world of motorsport that was previously a regional partner of F1, will begin its new association with F1 at the second Austrian Grand Prix set to be held on July 12 at the Red Bull Ring.

"The new agreement demonstrates the natural partnership that exists between the world’s most popular motorsport series and the globally renowned vehicle care product experts," F1 said in a statement.

"The partnership will allow Liqui Moly to continue to increase their brand recognition with F1 audiences across the world and will include track signage at 11 Grands Prix and the ability to promote the partnership on a global basis."

Ben Pincus, Director of Commercial Partnerships of Formula 1, said:

"We are delighted to continue our relationship with Liqui Moly and to welcome them as an Official Sponsor of Formula 1.

"The fact that the partnership has grown beyond a successful first year, proves the value in terms of brand awareness and preference. We look forward to continuing to explore ways to further integrate Liqui Moly into the F1 ecosystem."