The colossal money in US F1 deals – and how Ferrari have cashed in
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The sport’s growth in the US is reflected in the F1 2023 calendar which will feature three races Stateside – in Las Vegas, Austin and Miami.Ferrari have cashed in to an extraordinary degree, according to Sport Business.Their sponsorship revenue grew 29.5 percent from 2021 to 2022It totalled $121.6m in the third quarterFerrari’s improvement from sixth in the constructor’s F1 standings in 2020, to third in 2021, is a key reason for this growthSponsorship revenue grew 26 percent to $345.2m in 2022 so farFerrari’s net revenue is $1.24 billion so far in 2022, a 19 percent increase from this time last yearIs Colton Herta F1 WORTHY?Video of Is Colton Herta F1 WORTHY?There have been 161 deals between US sponsors and F1 teams in 2022, according to the report.This is a 21.1 percent increase from 2021 and a 66 percent increase from 2020.Most recently, US-owned Haas announced that MoneyGram would become their new title sponsor and the team’s name would change next season to MoneyGram Haas.McLaren have a partnership with Google, and Red Bull’s title sponsor is Oracle, also two US-based businesses.American drivers, such as IndyCar star Colton Herta, are also being considered for F1 seats across the grid as teams maximise their visibility in the US.Related Binotto plays down Mercedes revival: ‘They’ve developed their car more than us’ Will Red Bull’s punishment deter future F1 cost cap breaches?
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