Vodafone switches allegiance to Ferrari.

Vodafone Group, the world's leading mobile telecommunications company, is to back Ferrari's assault on the Formula One world title from next season, 2002.

The three-year sponsorship deal is the largest in Vodafone's history, and will involve significant branding on the sidepod, nose and front win of next season's Ferraris. The Vodafone brand will also appear on the drivers' and pit crew's overalls and helmets.

The agreement was revealed, after some speculation, in the paddock at the Monaco Grand Prix, one of the most glamorous and prestigious grands prix of the year.

"This is an exceptionally good deal for us," explained, Vodafone chief executive Chris Gent, "and it will give us greatly enhanced brand exposure throughout the world. Vodafone believes in backing winners, and Ferrari is a valuable addition to our existing, and successful, global sponsorships."

Ferrari team principal Jean Todt was present at the announcement, and is already looking forward to the new alliance.

"To have Vodafone on board is a coup for us," the Frenchman admitted, "It will give us a partnership with one of the world's top companies."

Vodafone has a customer base estimated at 83million people worldwide, spanning five continents and 29 countries. The company has major plans to become one of the world's top brands, both in its own and market and in general, and sees Formula One as offering it high-profile exposure in a sport that commands a worldwide television audience of 360million people per race.

"We are the world's leading mobile telecoms company, and it is our objective for Vodafone to be recognised as one of the leading global brands," Gent confirmed, "I am confident that the sponsorship of Ferrari, with the immensely valuable media coverage that Formula One attracts, will help us towards achieving that ambition."

Vodafone formerly backed the Benetton team, largely due to an existing contract established when Alex Wurz drove for the team with the support of recent Vodafone acquisition D2. The British team is currently struggling at the back of the grid, while Ferrari contends for both world titles.