ING confirmed today that it will not be renewing the three-year sponsorship (2007-2009) contract with Renault F1 and that it will end its presence in F1 beyond the 2009 season.

ING’s participation in Formula 1 was the company’s first global sponsorship project . Over the past two years, ING has successfully achieved its objectives for the F1 sponsorship, raising its overall awareness by 16% (March 07 vs November 08).

F1 remains a powerful business driver even in a difficult economic climate. ING has cut F1 sponsorship costs by 40% in the final year. ING has enjoyed the relationship with Renault F1 and will continue to work closely with the team during the final year of the partnership.