In a statement, AirAsia said it would pay STG350,000 (RM1.7 million) for the one-year sponsorship of the football club owned by Tan Sri Tony Fernandes.
KUALA LUMPUR: AirAsia Bhd has sealed a one-year deal to sponsor Queens Park Rangers' away shirt in the Barclays Premier League for about RM2 million.
AirAsia signed the agreement with the club's parent QPR Holdings Ltd yesterday.
In return, the low-cost carrier will get, among others, the rights to the designation of "Official Partner of QPR" and to use QPR intellectual property for advertising and promotional purposes.
AirAsia will also get exposure from the static board, interview backdrop signage at the QPR Loftus Road Stadium and the rights to advertise at the QPR Loftus Road Stadium on match days.
Fernandes and Datuk Kamarudin Meranun, who are directors and major shareholders of AirAsia, are deemed interested in the agreement, each owning a 13.07 per cent stake.
They had abstained from all board and management deliberations, the airline said.
In a separate announcement, AirAsia said it had extended its May 2011 agreement with 1Malaysia Racing Team Sdn Bhd as an official team partner of Caterham F1 for another year effective January 1 next year.
The move is part of its strategy for continuous brand elevation and association with F1, as well as to elevate its brand perception from that of a low-cost carrier to a brand associated with high-end sports and cutting-edge F1 technology.
Caterham F1, an F1 racing team, was formerly known as Team Lotus and title sponsor of the Caterham F1 Driver Development Program.
Fernandes and Kamarudin are also directors and substantial shareholders of Caterham F1, with direct interest of 25 per cent respectively. They are also co-team principals of Caterham F1.
Under the extension, the company will be an official team partner of Caterham F1 and title sponsors of the programme for the 2012 F1 racing season.