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Reading Practice 1

Sponsoring Formula 1 racing offers companies significant financial growth and global exposure, with hundreds of millions of viewers annually. The sport's expansion into emerging markets like the Middle East and Asia presents new business opportunities, making it an attractive investment. Companies benefit not only from potential profits but also from enhanced brand image and perceived stability.

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38 views

Reading Practice 1

Sponsoring Formula 1 racing offers companies significant financial growth and global exposure, with hundreds of millions of viewers annually. The sport's expansion into emerging markets like the Middle East and Asia presents new business opportunities, making it an attractive investment. Companies benefit not only from potential profits but also from enhanced brand image and perceived stability.

Uploaded by

maidung089
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Fast Cars, Big Money

Does your business need a boost?


Imagine 350 million people seeing your company logo every year. Imagine being
part of one of the most prestigious and glamorous sports in the world and making
millions of dollars at the same time. Sound attractive? Hundreds of companies
have already discovered the financial benefits of sponsoring Formula 1 racing.
When you choose to sponsor a team, you can be assured that your company will
grow financially and globally.

Why are companies interested?


Companies have realized that investments in the sport of auto racing can bring
them huge profits. Businesses, including banks, hotels, and telecommunication
companies, invest tens of millions of dollars every year to sponsor race teams.
Hundreds of millions of people watch car races every year. For companies, this
is an enormous market.

Cars race around the track with company logos stuck to the doors, hood, and
trunk, and people $5 million in a race team and make $30 million or more from
car advertising. These costs are cheap compared to the profits. Sponsoring a team
also shows the financial stability of your company. Race cars can cost tens of
millions of dollars, and race teams can spend up to $ 300 million a year.
Companies who invest in race teams are showing the world that they are
powerful and dependable.

Why is investing now a good idea?


Much of Formula 1’s current success comes form its expansion to global
markets. Although most races are in Europe, today there are races in the Middle
East and Asia. Companies support worldwide expansion because it gives them
new customers in emerging markets. They can push their brand globally. Many
companies have already invested in Formula 1’s most recent host locations,
including Bahrain, Abu Dhabi, and Singapore. As a result, they have been able
to expand their business to the Middle East and Asia. These areas of the world
are full of business opportunities, and Formula 1 racing has brought them nor
growth and success. Expanding overseas also shows that your company has a
global message, which is important in today’s global economy.

Why should my company invest?


Thanks to a strong business mentality, Formula 1 racing has become a profitable
sport for corporations to invest in. The global economy is always changing, but
the industry has succeeded by finding new ways to make more money.
Sponsoring a team will not only bring your company profits, but will also
improve your company’s image as a business that is stable and global-minded.
Take advantage of this wonderful business opportunity, and enjoy being part of
this glamorous, thrill-seeking sport. Vroom vroom!

A. Read the main ideas. Write the paragraph number where they are
found.
__1__ 1. By sponsoring a Formula 1 team, a company will grow financially and
globally.

_____ 2. Formula 1 sponsorship is profitable and shows that a company is


powerful and reliable.

_____ 3. Sponsors can make a lot of money from car advertising.

_____ 4. Formula 1 racing is a good investment today because of its expansion


to global markets

_____ 5. Sponsorship brings companies profits and improves their image.


B. Complete the graphic organizer for Reading 1. List two reasons that
answer each question.
Reason 1 Reason 2
1. Why are companies Companies can make
interested in Formula 1 huge profits.
racing?
2. Why is investing in It shows your company
Formula 1 racing now a has a global message.
good idea?
3. Why should
companies invest in
Formula 1 racing?

C. Find these sentences in the article. Then answer the questions.

1. (Paragraph 1) Imagine this number growing higher every year.


What number does this refer to?
__________________________________________

2. (Paragraph 2) For companies, this is an enormous market.


What market does this refer to?
____________________________________

3. (Paragraph 3) These costs are cheap compared to the profits.


What costs does these refer to?
___________________________________________

4. (Paragraph 4) These areas of the world are full of business opportunities, and
Formula 1 racing has brought them more growth and success.

What areas of the world does these refer to?


________________________________

5. (Paragraph 5) Take advantage of this wonderful business opportunity, and


enjoy being part of this glamorous, thrill-seeking sport.
a. What business opportunity does this refer to?
_____________________________

b. What sport does this refer to?


_____________________________

KEYS
A. 1. 1
2. 3
3. 2
4. 4
5. 5
B.

1. Reason 2: It shows that companies have financial stability.


2. Reason 1: It gives companies new customers in emerging markets.
3. Reason 1: It will bring companies profits.
Reason 2: It will improve a company’s image.

C. 1. 350 million people


2. people who watch car races
3. investing $5 million in a race team
4. the Middle East and Asia
5. a. sponsoring a team
b. Formula 1 racing

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