This past Formula 1 ‘off-season’ was busy with emails from teams announcing new sponsorship deals and partnerships ahead of the 2023 World Championship.
So much so that, editorially we ask: How newsworthy are each individual sponsorship deal? Perhaps individually not so much, but collectively it’s worth ascertaining how F1’s global boom is making teams richer.
The first team to reveal their 2023 F1 livery, earlier this month, was Haas who scooped MoneyGram as their Title sponsor, a big deal for Gene Haas’ team which not long ago was teetering on extinction, but now team boss Guenther Steiner is upbeat and declared that money (rather a lack thereof) was no longer an excuse for the minnows.
Red Bull of course have Ford on board, which is a massive development for the team as the U.S. auto giant will be contributing to the ‘war chest’ that will power Max Verstappen.
The defending F1 World Champions confirmed last week that Rokt will become an official team partner and the two organisations will work together in various initiatives to foster greater diversity in F1 racing and beyond.
Sauber, aka Alfa Romeo, unveiled their 2023 car with Stake as their new Title sponsor, while Gulf changed alliances from McLaren to Williams. Here’s an overview of who-scooped-who recently:
Lawrence Stroll’s team concluded a deal with Globe-Trotter as its Global Luxury Luggage Partner following the signing of a long-term agreement. Globe-Trotter is famous for its luxury luggage collections. Much like Aston Martin’s Formula One cars, its products are handmade in England using the finest materials. Their luggage range combines style, quality, and elegance, alongside a timeless appeal.
Vicente Castellano, Executive Chairman of Globe-Trotter, explained the F1 venture: “We are hugely excited to start a long-term relationship with AMF1. We believe both companies share the values that have made Globe-Trotter an enduring brand for 125 years, particularly our common focus on craftsmanship and iconic design.
“Crucially, it is this common ground that gives us both great confidence that we can create special products and experiences for our fans in the coming seasons,” added Castellano.
Also new to the team is AvaTrade, their branding will be visible on the AMR23 during the 2023 season and ramped up at key markets across the globe over the course of the year
Dáire Ferguson, CEO at AvaTrade, said of the new venture: “We are delighted to announce this partnership with AMF1. Traders and sports teams competing at the highest levels require a number of similar characteristics. They need to be driven, ahead of the pack and dynamic, with professional support, to get to the top of their game.
“This is why we are so excited to be working alongside AMF1, a team that shares our views and outlook on what is required to achieve success.”
The team founded by Bruce McLaren team will also carry new official partners into the new season, among them Dubai-based DP World, a leading provider of worldwide smart end-to-end supply chain logistics.
McLaren boss Zak Brown commented on the new deal: “We are thrilled to welcome DP World to the McLaren family. Logistics is a significant challenge in a global sport like Formula 1, and DP World’s smart solutions will help us enhance the efficiency of our partner and supply chain network, contributing to performance on and off the track.
“We are proud to partner with a brand that shares our values in sustainability, including our journey to reduce emissions from our sport. We look forward to going racing with DP World in 2023.”
Mohammed Akoojee, Chief Operating Officer, Logistics, DP World, added: “We are delighted to join forces with Zak and the McLaren team at an extremely exciting time for both DP World and motorsports. We take great pride in leading innovation in global supply chains and this partnership will showcase our logistics capability alongside one of the most dynamic players in the sector.
“This is an amazing opportunity, and we look forward to supporting McLaren at all levels to enhance the sport, by providing smart logistic solutions that are transparent, sustainable, and cost-efficient,” said Akoojee.
In, mid-January, McLaren announced an extension and expansion to their multi-year partnership. Castore will continue to provide team wear and merchandise for the McLaren Formula 1 Team from the 2023 season while extending its support to all of McLaren’s physical race series from 2024.
Rich Brooks, Brand Director, Castore, said: “It’s a true testament to our Better Never Stops ethos, that we have been able to not only extend our partnership with one of the most prestigious F1 Teams in McLaren, but also to go deeper in supporting their wider race series teams.
“There are some wonderful synergies between the brands, and we are really looking forward to highlighting them over the years and continue to provide the fans with new and innovative products,” explained Castore.
In January, Ferrari announced two new deals, the first, signing of a multi-year agreement. Genesys, a world leader in the field of customer experience, allowing companies to deepen customer connection through cloud and digital technologies.
The company logo will feature on the cars driven by Charles Leclerc and Carlos Sainz and Genesys will also partner Ferrari in its 499P Hypercar endurance racing programme, including the Le Mans 24 Hours.
Ferrari boss Benedetto Vigna welcomed their new partners: “We are delighted that Genesys are joining Scuderia Ferrari as a Team Partner and will also be featured in our LMH programme.
“As another business focussed on technological leadership they, like us, have a tireless approach to continuously improve and progress. I know that the synergies between our two businesses will deliver huge value on both sides.”
Also confirmed a multi-year partnership with Harman Automotive. An electronics technology company and a subsidiary of Samsung Electronics focused on designing consumer experiences at automotive grade that will develop a multi-faceted partnership with Ferrari focused on bringing the next-generation of in-cabin experiences to market.
Vigna said on the occasion of the announcement: “Our partnership brings together two brands celebrated for excellence and for pushing the boundaries of technology and innovation. We look forward to working with Harman to extend our in-cabin experience advantage and deliver to our customers a drive like no other.”
Yesterday, Mercedes welcomed Sherwin-Williams, a leading paints and coatings manufacturer as a new partner.
Sherwin-Williams president and GM, Brian Gallagher, said of the partnership: “Both organizations have a proven track record of delivering excellence in all aspects of their operations, pushing the technological boundaries of product performance, innovation and sustainability to propel our industry forward.”
In January the former F1 World Champions announced a new partnership with Solera, a global leader in vehicle lifecycle management.
“Solera and the Mercedes F1 Team share the same commitment to transform the automotive industry,” said Darko Dejanovic, CEO of Solera. “That’s why we’re excited about this collaboration. It presents an opportunity to break new boundaries and inspire excellence on a global scale.”
Other Sponsor/ Partner Deals for 2023:
AlphaTauri announced a multi-year partnership with PKN Orlen, the former Williams backers during their time with Robert Kubica in the wings.
PKN Orlen CEO Daniel Obajtek, explained: “Orlen Group is Central Europe’s most significant multi-utility concern, serving more than 100 million customers. Global brand recognition is essential to achieve our strategic goals. Nearly half of the Group’s revenues come from sales abroad.
“That is why we consistently focus on sport sponsorship, a cornerstone of our presence in the most prestigious racing series. With Formula 1’s exposure, we reach hundreds of millions of fans worldwide and have built a consistent marketing strategy in Poland and abroad for years.”
AlphaTauri team principal, Franz Tost, commented: “I’m pleased to be starting the 2023 season with such positive news for the team. I’m looking forward to seeing the Orlen logo featured on our new car at the launch in New York City and also how this partnership progresses over the coming years.”
There were no new partner announcements from Alpine during the winter, the French team will launch their 2023 challenger on 16 February when it is likely they will be revealing more partners as will teams still set to launch their cars. They are: