Australian Grand Prix promoters have managed to secure a fresh title sponsorship deal with national airline Qantas, despite the uncertainty over next year's event taking place.
With race chiefs and Australia's motorsport governing body, CAMS, at loggerheads over fees to be charged for organizing the race – and a Nov. 19 deadline laid down by the FIA to sort out the matter – there have been major doubts that it will be resolved in time. However, that has not stopped Qantas agreeing a new deal, with the company confident the problems will be solved.
"We are proud to renew our naming rights sponsorship of the 2011 Formula 1 Qantas Australian Grand Prix," Qantas CEO Alan Joyce said. "Qantas has been associated with the Australian Grand Prix for 25 years and we are especially looking forward to next year's event with Qantas as the premier partner.
"As a committed supporter of Australian sport, we are delighted to be continuing our active involvement in one of the highlights of the national major events calendar."