Ferrari announced today it has signed a five-year extension to their sponsorship deal with Marlboro.
Marlboro had been rumoured to be leaving Formula One at the end of the 2001 season because of incoming laws banning tobacco advertising in the sport.
But Philip Morris, which owns the Marlboro brand, says it would stay with Ferrari until 2006. The firm will quit Formula One when the tobacco ban comes into operation.
President of Philip Morris's European region Hans Fluri said: "We are absolutely delighted that we will continue the very successful relationship that Marlboro has enjoyed with Ferrari since 1984.
"In extending our relationship with Ferrari to 2006 we are mindful that the European Union wishes to phase out sponsorship activities by that date."
Marlboro-sponsored cars have amassed 10 drivers' titles and nine constructors' championships in Formula One.
Ferrari's hopes of extending Michael Schumacher's contract with the team will be boosted by the Marlboro deal.
Reuters