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]

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

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