World champions Renault confirmed on Monday ING will become their title sponsor from the 2007 season.
ING, a Dutch financial institution with over 60 million customers, has agreed a three-year deal with the French squad.
"We are delighted to welcome ING to Formula One as our title sponsor," said Renault team president Alain Dassas. This is an important agreement for the growth and development of the Renault F1 Team, providing long-term stability that reinforces our long-term commitment to the sport.
"We look forward to a fruitful, win-win relationship with this respected financial institution."
The Dutch bank will replace cigarette brand Mild Seven, who has been the team's sponsor for 13 years.
"We would like to take the opportunity to thank Mild Seven for their unstinting support during the past thirteen seasons," said team boss Flavio Briatore. "Their loyalty and dedication stand as examples for corporate involvement throughout Formula One.
"They entered the sport as winners, with world championship victory as Benetton's title sponsor in 1994 and 1995. After last year's dramatic double championship win with Renault, we are working flat out to ensure they can leave the sport in the same way: on a high, as the winners of consecutive world championships."
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