LONDON - Budweiser, the world's best-selling beer, and the BMW WilliamsF1 Team, a global leader in Formula One, today announced the "King of Beers" will serve as an 'official sponsor' of the BMW WilliamsF1 Team. The multi-year agreement is Budweiser's first sponsorship in Formula One and builds upon the brand's international sports marketing portfolio.

As part of the agreement, the Budweiser logo will be featured on race cars driven by two of the sport's hottest drivers - Juan Pablo Montoya and Ralf Schumacher - as well as on driver and team uniforms. The brand also will have rights to use the drivers' images, team logo and team cars in advertising and sales promotion initiatives.

The sponsorship announcement comes on the heels of two consecutive one-two finishes for Schumacher and Montoya at the European Grand Prix on June 29 and the French Grand Prix on July 6. Budweiser will debut its sponsorship of the BMW WilliamsF1 Team at the British Grand Prix in the United Kingdom on July 20.

"Our sponsorship of the BMW WilliamsF1 Team enables Budweiser to reach a global audience of racing fans by leveraging the resources and marketing expertise of two industry leaders," said Tony Ponturo, vice president, global media and sports marketing, Anheuser-Busch, Inc. "For more than 25 years, WilliamsF1 has been synonymous with the best in Formula One racing, and we look forward to continuing the team's winning tradition at this weekend's British Grand Prix."

On the announcement of this major new partnership, BMW WilliamsF1 Team Principal Frank Williams said, "Budweiser is one of the world's most admired and identifiable brands, and of course has an impressive history as a patron of motor racing. I represent the whole team in saying that we feel extremely privileged to form a commercial alliance with a brand of this stature and importance."

Budweiser sponsors a variety of motorsports teams, and in the past 14 years, Bud Racing teams have produced 36 national and world championships. Budweiser was an associate sponsor during Montoya's Indianapolis 500 victory in 2000, when he became the first rookie to win the event since 1966. In addition, the brand serves as 'official beer' sponsor of the National Association of Stock Car Auto Racing (NASCAR) and the National Hot Rod Association (NHRA); and sponsors NASCAR's Dale Earnhardt Jr., the Miss Budweiser unlimited hydroplane team, and the NHRA's Kenny Bernstein.