Online FX brokerage InstaForex today announced that it has extended its sponsorship agreement with Dragon Racing, which will see the Kaliningrad-based firm remain the Formula-E Team’s sponsor for an additional season.
InstaForex is retaining a role it has assumed for nearly three years as the online brokerage first became an official sponsor of the electric car racing team in July 2015.
The agreement will allow InstaForex to maintain a range of branding rights as well as a host of other sponsorship benefits. InstaForex logo will feature prominently on the rear wing at Dragon’s key races during the partnership period. In addition, the team’s drivers will also carry InstaForex branding at those key races.
The financial terms of the deal have not been disclosed.
Pavel Shkapenko, Development Director at InstaForex, commented: “The extension of the official sponsorship contract implies not only image-building, which includes branding cars and the drivers helmets with the broker’s logo. InstaForex shares the desire of Formula E and Dragon Racing to develop and promote new technologies while taking care of the environment. We wish Dragon Racing all the best for a fantastic season!”
Jay Penske, CEO and owner of Dragon Racing, added: “Dragon Racing is delighted to welcome Instaforex back for a 4th consecutive season. Their continued support and shared values make for a great partnership that I am sure will continue for many years to come.”