The five biggest team sponsors in Formula 1 in 2024
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Around 300 companies and brands sponsored the 10 F1 teams last year, according to the Financial Times, which is double the quantity from a decade ago.Tobacco used to be a major sponsor until it was banned in 2006, then telecoms companies had their day, but now software providers are prominent names on the F1 cars.The purchase of F1 by Liberty Media which in turn resulting in huge new events, like the Las Vegas Grand Prix, coupled with Netflix’s Drive To Survive has resulted in a boom in popularity for the sport.The result is that sponsoring a team might be expensive, but it can be very worth it for companies with deep pockets.RacingNews365 have estimated the five biggest-money deals “based on conversations with marketing people and team members in the paddock”.The five biggest team sponsors in Formula 1 in 2024Oracle – Red Bull – $90mAramco – Aston Martin – $75mPetronas – Mercedes – $70mStake – Stake F1 Team – $50mBybit – Red Bull – $40mRed Bull’s team sponsor Oracle has a history with F1, for those with longer memories.The software company sponsored Benetton in the 90s. Benetton’s driver back then? Jos Verstappen, Max’s dad.Related Guenther Steiner’s first verdict after his exit from Haas Monza begins revamp to secure its F1 futureAs well as putting their name on the car, Oracle software assists Red Bull’s F1 team in calculating pit stop strategy.Red Bull also bring in money from Bybit, a cryptocurrency company who are contracted until the end of this season.Aramco not only sponsor Aston Martin, they also sponsor Formula 1.That’s why you see the name of the Saudi Arabian oil giants on Fernando Alonso and Lance Stroll’s cars, but also at the circuits of some grands prix.This season, Aston Martin are changing their team name to ‘Aston Martin Aramco Formula 1 Team’ – therefore dropping Cognizant from their name, and establishing Aramco as their sole title sponsor.Petronas is a fuel supplier from Malaysia and a long-term sponsor of Mercedes. They have worked together since 2010 and their current deal runs to 2026.Petronas will supply the sustainable fuel which the next era of F1 power units will require.Stake, notably, are in the mix and have become the title sponsor for F1’s newest team. Whereas last season they sponsored Alfa Romeo, they have evolved into becoming the title sponsor of The Stake F1 Team, run by Sauber this year. The Australian betting company will have their name sponsoring the F1 team for two years, until Audi arrive.
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