Toyota has inked a four-year deal to sponsor TV coverage of Formula One motor racing by Britain's ITV Network. The Japanese auto titan roared past the sponsorship chequered flag ahead of rivals including Australian lager brand Foster’s.

The agreement, worth an aggregated £80 million, covers all seventeen international races in each season, plus broadcast qualifying sessions and highlights programmes. It revs-up on the starting grid in April with the opening of the next F1 season.

The deal is timed to coincide with the launch of Toyota’s own F1 team and sponsorship, valued at £25m, is only one element in the package which also includes advertising spots, promotions and coverage on the ITV Formula One website.

The influx of yen will be joyously received by ITV, of all UK terrestrial networks the hardest-hit by the deceleration in adspend. Rune-rakers guesstimate that it’s advertising income has fallen by 14.5% since January.

News source: CampaignLive (UK)