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Ferrari extends deal with tobacco company Philip Morris
Ferrari has extended its collaboration with tobacco company Philip Morris through to the end of 2015, despite cigarette advertising being banned in the sport.
Philip Morris's brand Marlboro has been Ferrari's title sponsor since 1997, but the logo last appeared on the car at the 2007 Chinese Grand Prix. Ferrari signed it's current deal with the company back in 2005 with the income from Marlboro sponsorship reported to have been worth $1 billion over ten years. Ferrari has now announced that it will extend its association with the company for another four years.
"Scuderia Ferrari Marlboro announces that it has extended its collaboration agreement with Philip Morris International to the end of 2015," read a press release.
Last year Ferrari was accused of subliminal advertising for running a barcode livery that was believed to bear some resemblance to Marlboro branding. Despite denying any wrongdoing, Ferrari removed the branding and now runs a simple Scuderia Ferrari logo.
However, in certain territories some Marlboro adverts and cigarette packaging carries references to and images of Ferrari's Formula One cars.
No details of the new deal were given.