Mubadala extends their sponsorship with Ferrari

Mubadala Development Company, a company based in Abu Dhabi, United Arab Emirates, announced this Sunday that they have extended their partnership with Scuderia Ferrari.

The company, one of the principal investment funds in the Middle East, had initially planned a three-year sponsorship with the Italian team until 2009. It finally renewed the agreement for an additional year.

The contract comes just after the one signed last Friday by Etihad Airways, another Abu Dhabi company. The airline was the main sponsor of Spyker in 2007 before the team took the form of Force India and broke this contract.

Mubadala is a long-term and trusted partner of Ferrari. The company also owns 5% of the shares in Ferrari’s capital.