American news broadcaster CNN has agreed a sponsorship deal with Formula One newcomers Lotus Racing.

The "long-term" agreement will see the CNN logo appear on the front-wing of the T127 race cars, the drivers overalls and visors, and on all team clothing in the coming season. It is unclear whether the deal involves a cash sponsorship or coverage for Lotus or associated brands on CNN. However, the annual value of such a sponsorship would ordinarily be around US$2 million.

Rani Raad, senior vice president CNN International Advertising Sales, said: "The combination of two such iconic and aspirational global brands fits perfectly with CNN International’s worldwide reach and brand positioning. This unique partnership with Lotus Racing takes CNN International into a new era of marketing and promotions and puts us in front of a worldwide audience of millions."

Lotus Racing team principal Tony Fernandes said: "We are very proud to welcome CNN into the Lotus Racing family. It is a sign of the positive impact we have already made in the global business market that such a prestigious brand, familiar to millions around the world as the definitive source of news and current affairs, has made the decision to partner with us. The whole team and I are looking forward to working with CNN in the months and years to come on some very exciting campaigns."