Tuesday February 1st, 2000

The Prost Formula One team announced today that they would be sponsored by internet giant Yahoo! in the 2000 season. Prost, run by France's former four times world champion Alain Prost, will also retain the French Gauloises tobacco manufacturer as their primary sponsor.

"This new partnership will enable us to broaden our reach into Formula One worldwide and an ever-growing and international audience," said Yahoo! chairman Tim Koogle.

Yahoo! currently boasts 100 million daily users and, although no financial details were released on Tuesday, newspapers have speculated that the deal was worth $25 million over three years.

The arrival of Yahoo! furthers a move towards high-tech sponsors in Formula One ahead of a European ban on tobacco advertising due to be completed by 2006.

Formula One is also returning to the United States this season after an absence of nine years.

Computer manufacturer Compaq last week became primary sponsors of Williams, whose other backers include semi-conductor giant Intel Corp, telecommunications company Nortel Networks Cotp and news and information provider Reuters.