Ferrari Extends Last Remaining Cigarette Sponsorship in Formula One

Formula One's Ferrari team has extended its collaboration agreement with Philip Morris through the end of 2015. The deal, which at the time of its signing was rumored to be for approximately $100 million per year, is the last remaining cigarette sponsorship in Formula One racing. Faced with stricter advertising regulations, Ferrari removed the Marlboro logo in 2008 and the infamous barcode in 2010.