MCI Announces Formula One Sponsorship With Stewart Grand Prix
18 December 1997
London, 18 December 1997 - MCI, one of the world's largest telecommunications companies, today announced an agreement with Stewart Grand Prix to become a sponsor of the Stewart-Ford Formula One team. The sponsorship agreement was announced by Jackie Stewart, Chairman of Stewart Grand Prix, and Andy Deas, general manager of MCI Racing, at a press conference at London's Grosvenor House hotel. Financial details of the agreement, which includes MCI sponsorship identity on the Stewart-Ford Formula One cars, were not revealed. "We are extremely pleased and proud to welcome such a prestigious and respected telecommunications giant to our already high profile list of partner-sponsors. MCI is well recognised for its exciting and entrepreneurial spirit as a corporation and I believe they will make excellent use of Formula One Grand Prix on a global basis," said Jackie Stewart. Headquartered in Washington, D.C., MCI has built a reputation for working with telecom entities world-wide to deliver one of the most comprehensive portfolios of global voice and data services. It has more than 300 offices in 70 countries and has circuits in every major analogue and digital cable in the world. "Like Formula One racing, telecommunications is a fast paced, highly competitive industry that demands teamwork and performance," Deas said. "Our agreement with Stewart Grand Prix gives MCI the ability to align its brand with a sport and a team with the same characteristics." The international motorsport sponsorship via Stewart Grand Prix gives the MCI brand an extensive global reach that complements the company's existing auto racing sponsorships. The MCI Racing group spearheads all of MCI's motorsport initiatives including the NASCAR, CART, ARS/Indy Lights, Atlantics Championship, Historic Sports car Racing series, as well as team sponsorships that include Arciero Wells/MCI Racing Team, the MCI Toyota Atlantic Team, the MCI Toyota Off-Road Truck Team, the PacWest Racing Team and Triple Caution Racing. "MCI is the only telecommunications company with this high level of commitment to auto racing." Deas said. "Race fans relate to corporations involved in their favourite sport and support their products and services," he explained. "That is why we are involved with Stewart-Ford. Formula One reaches these people over a prolonged period of time, allowing us to position ourselves in the forefront of their minds when making a telecom choice." Since it founding in 1968, MCI has been a leader in bringing the benefits of long distance competition to businesses and consumers and is now leading the charge to open U.S. local calling markets. In 1998, many European nations will open their telecommunications markets to competition for the first time, a move that MCI applauds and believes will encourage further growth and opportunities in the industry, which represents another growth opportunity for MCI. "This sponsorship allows us to build brand identity in this $170 billion marketplace, " Deas said. "We are confident that Stewart Grand Prix are the right partner to make that happen." MCI has developed an extensive global Internet backbone that connects Internet service providers in more than 80 countries. As a demonstration of that expertise and a method of connecting directly with racing fans around the world, MCI Racing produces one of the most comprehensive Internet sites in the racing arena (http://www.mciracing.com). "MCI Racing is primed to bring auto racing fans closer to their sport while promoting the MCI brand and its family of integrated products and services," Deas said. MCI, headquartered in Washington, D.C., offers the industry's most comprehensive portfolio of communication services. With 1996 revenues of $18.5 billion, MCI ranks as one of the world's largest telecommunications companies. MCI is also the world's second largest carrier of international traffic and operates one of the world's most advanced Internet networks. Since its founding in 1968, MCI has been a leader in bringing the benefits of long distance competition to businesses and consumers and is now leading the charge to open U.S. local calling markets to competition. On November 10, 1997, MCI announced a definitive merger agreement with WorldCom, Inc. to form a new company called MCI WorldCom.
