Saudi Telecom Company (STC) has renewed its title sponsorship of the Saudi Arabian Grand Prix, following an agreement with Formula 1.
STC has been the title sponsor of the F1 race in Saudi Arabia since the first Grand Prix was held in the country in 2021.
Formula 1 STC Saudi Arabian Grand Prix 2024
This year’s Formula 1 STC Saudi Arabian Grand Prix 2024 takes place at the Jeddah Corniche Circuit on March 7-9 and is the second race on the calendar for the season.
Olayan Alwetaid, CEO of STC Group, said: “The extension of our strategic partnership with Formula 1 will take the Formula 1 STC Saudi Arabian Grand Prix into the future. We look forward to continuing to provide seamless, world-class connectivity at the race this year under the theme “limitless drive”, and we are proud of our support for Formula 1 over the last three years.
“With our suite of innovative products and solutions, STC Group is driving digital transformation across different sectors. The extension of this partnership reinforces our commitment to delivering world-class connectivity at major events and ultimately connecting the world through technology.”
F1 believes the partnership with STC Group will continue to deliver huge awareness and value for the brand, as well as providing exciting opportunities for customer engagement.
Stefano Domenicali, President and CEO of Formula 1, said: “Formula 1 fans at the race weekend in Jeddah can expect high speeds on the track and fantastic fan experience off it. As we continue to grow our sport around the world, the support of high-quality technology partners is invaluable, so we are delighted to extend our relationship with STC.”
Earlier this week, STC announced its results for 2023, with revenues climbing 7.3 percent to $19.3 billion compared to previous year. Gross Profit grew by 1.1 percent, reaching to $10.3 billion.
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