Old habits die hard - I spent a working life running businesses and making decisions amongst other things on proposals to take stands at shows, run advertising campaigns etc . Difficult to think any other way than " is this a sensible business proposition?" IMO it wasnt - but it is Charles Morgan's company so he can do what he wants with it.
Interestingly enough, there is a parallel isnt there in Lotus sponsoring the ex Renault F1 team. Maybe more relevance since the Lotus brand is about modern design and track day type cars but even here I would question whether the cost is remotely worth while.