WilliamsF1, Western Union sign multi-year deal.

Western Union, a worldwide leader in money transfer services, gave a welcome boost to the start of the new Formula One season by announcing a new sponsorship agreement with the BMW WilliamsF1 team.

The sponsorship also embraces an endorsement deal with team driver Juan Pablo Montoya, who has a huge following throughout Latin America - a key region for Western Union services.

"I am delighted to be welcoming such an established and prestigious name to the team, and I have every confidence that the strength of the B2B relationships built within the Formula One paddock will provide significant business opportunities for Western Union," commented team boss Frank Williams, "I am also pleased that Western Union's confidence in Formula One is another strong endorsement for the sport in an improving sponsorship market place."

Western Union was formed in the US in 1851 and was responsible for expanding the use of telegraphic communications throughout the world in the late 1800s and early 1900s. The company introduced the Western Union Money Transfer(R) service, now its primary business, in 1871, and was also responsible for business and technological innovations such as the first stock ticker, providing brokerage firms stock quotations, and the first inter-city facsimile service.

It has now recognised the significant marketing and business potential afforded by Formula One as a global sport, and the sponsorship will provide a dynamic platform for hosting current and potential customers and enhance visibility for the brand as well.

"Western Union is delighted to join a strong portfolio of BMW WilliamsF1 team sponsors," Western Union International president William D Thomas commented, "We are excited to be involved in a truly global sports programme that reflects the worldwide footprint of our business, and with a team whose characteristics of speed, performance and safety reflect those of Western Union's business."