Not HSBC

The listening bank will not be sponsoring GBR Challenge

Despite rumour to the contrary HSBC bank have confirmed that they will not be becoming title sponsor of GBR Challenge.

GBR Challenge had been working on this sponsorship deal for the best part of a year, starting from a discussion which was initiated by HSBC themselves.

GBR Challenge received nothing but positive responses and direction at every stage of the detailed discussion with HSBC and team management, external consultants, and our new group of private investors. To receive this decision at this time has come as great surprise, especially for Peter Harrison and the other team investors.

The reason for the decision appears to be that the bank’s corporate marketing group do not feel that that HSBC should sponsor high profile teams or individuals and should focus only on events, as a result of their past negative experience in F1. This issue has always been on the table and had been discussed on many occasions. The Business divisions of the Bank indicated that they had a strong enough business reason for moving ahead positively. With the commitment and support of GBR Challenge’s private investors, they pushed hard to make this an exception but unfortunately did not succeed.

GBR Challenge has two strong and committed private investors who remain very positive and are still focused on mounting a seriously competitive challenge. GBR Challenge also has a number of on-going discussions that are being progressed and further meetings scheduled in the coming weeks.