Saxo Bank becomes sponsor of Lotus F1

Denmark’s Saxo Bank will be one the Lotus Formula One team’s sponsors this season, moving into motor racing after being involved in cycling since 2008, the company said on Monday.

Although limited in scope, the one-year deal is a boost for a Lotus outfit which had financial problems last season despite finishing fourth in the constructors’ standings.

Saxo Bank will use the Lotus team name in its marketing and also be able to host clients at Formula One races as a sponsor.

“This is a modest step in because we always like to test things out first,” said Lars Seier Christenesen, Saxo Bank co-CEO. “If it works, we’ll step it up,” he added. [Source]











[Photos via Twitter and Jens Alminde, Lars Seier Christensen and more on Facebook and other media]

New McLaren Driver Development Programme role for Kevin Magnussen

19-year-old Kevin Magnussen, son of former McLaren test and race driver Jan Magnussen, is stepping up a level in our Young Driver Programme.

Kevin joined us in 2010 and since then he has finished runner-up in the ultra-competitive British Formula 3 Championship, setting eight pole positions and winning seven races. This year he will be racing in World Series by Renault as well as undertaking development work for Vodafone McLaren Mercedes.

His new role in our Young Driver Programme will include the opportunity to drive the MP4-27 during the Young Driver F1 test later this year. He will also work under Gary Paffett and Oliver Turvey in our F1 simulator, helping to evaluate new technical developments throughout the year and to continuously improve the accuracy of our simulations.

Read the full release here.