Formula 1 (F1) is undoubtedly one of the biggest motorsport series around the world. Thus, it’s unsurprising to see big brands like Mercedes and Ferrari investing huge sums of money into their respective projects. Two years ago, the F1’s Red Bull Racing team secured a five-year title sponsorship deal worth around $100 million a year. A contract with the established technology firm Oracle is one of motorsports’ most lucrative sponsorships.
How does motorsport sponsorship work?
When brands sponsor a racing team, they often see it from a marketing point of view. It gives them a competitive advantage over their competitors. So, sponsorship is a symbiotic relationship between brands and the racing teams.
There are different types of sponsorship. We have the title sponsor, where a brand primarily sponsors a racing series. A perfect example of this is Red Bull Racing in Formula 1. Companies may also choose to sponsor the entire car event, such as the Rolex 24 at Daytona. Brands like Pirelli supply tyres to F1, while other brands may cover the team’s expenses, including travel and wear.
What are iconic sponsorships in motorsport history?
Sponsors such as Rockstar, Oakley, and Lucas Oil have set remarkable records in the history of car races. Research has also revealed many more remarkable sponsors in history.
A poll was conducted in a Reddit motorsports community, and most people voted Marlboro as the most iconic sponsor. Other iconic sponsors on the vote list are;
- Rothmans
- Martini
- Camel
- John Player Special.
Even though STP wasn’t on the list, some comments suggested it should have been top of the list. Research reveals that STP had a solid relationship with NASCAR’s Richard Petty as far back as 1972.
Jack Roush, founder and owner of four-car NASCAR powerhouse Roush Fenway Racing, said:
“When Richard did the STP sponsorship deal it forever changed the business model in American motorsports. At a time when a lot of people were panicking about money, not unlike today, he and that company presented a solution that changed the face of racing.“
The emerging sponsors of Formula 1 teams in 2024
Over the years, cigarette manufacturing companies like Marlboro and oil companies like Shell have been the biggest sponsors of F1. However, blockchains and online casino companies started partnering with motorsports race teams in recent years.
In 2021, Crypto.com became the first digital currency brand to collaborate with Formula 1. And by the second season, every team had their own crypto sponsor.
Kris Marszalek, co-founder and CEO of Crypto.com, added:
“We are extremely proud to be the first cryptocurrency sponsor of Formula 1, joining a prestigious collection of brands supporting a sport with technology and innovation at its core.“
Today, two blockchain brands, Crypto.com and Bybit, are among the biggest sponsors of F1. The Williams F1 Racing team also recently extended its partnership with Kraken to the end of the Formula 1 2025 season.
Besides blockchain, F1’s marketing impact is growing amidst notable casino brands, including PokerStars and Stake. Stake, a crypto casino brand, started sponsoring the Stake F1 team with a multi-million dollar deal of 50 million this year (2024).
Research shows casino sponsors contribute to the 15.8% increase in F1’s central partnership income. Thanks to the casino brands’ dedicated fan base. Fans who want to experience casino thrills should check this comprehensive lists of $10 deposit online casinos in Canada.
The Big brands sponsoring other motorsport teams
Big brands try to emulate their competitors’ marketing strategies, causing them to seek partnerships with powerful motorsport clients.
On Monday, July 15, 2024, Harley-Davidson announced that the brand had signed a three-year partnership with BUILD Moto. With this sponsorship, high school students can improve their technical skills by getting extra motorcycles, parts, and accessories.
“Our involvement with BUILD Moto represents our commitment to STEAM learning and helping to teach the next generation of designers, engineers, and trades experts. Working with high schoolers who are empowered to create a bike that is race-ready is really rewarding. It’s a thrill to see their confidence grow during the build and showcase what they’ve learned as the pit crew on race day,” commented Shanna Beanan, STEAM Program Manager, Harley-Davidson.
The table below summarizes other popular events/series you should know about and their popular sponsors.
| Popular Events/Series | Teams | Popular Sponsors |
| NASCAR | Joe Gibbs Racing Team Penske Stewart-Haas Racing Hendricks Motorsports | Toyota, FedEx, and Sport Clips Verizon and Shell-Pennzoil Mobil 1 Chevrolet and Valvoline |
| FIA World Rally Championship | Hyundai Motorsport Toyota Gazoo Racing WRC | Shell, Hyundai and Michelin DMACK, Toyota and Castrol |
| NHRA Camping World Drag Racing | Super Bowl of Drag Racing NHRA Winternationals | Dodge and SRT Hellcat Redeye Lucas Oil and Auto Club of Southern California |
| Indianapolis 500 (IndyCar) | Andretti Autosport Team Penske Arrow McLaren SP Chip Ganassi Racing | Honda and AutoNation Verizon, Shell V-Power Nitro+ and Hitachi Vuse and Chevrolet PNC Bank, NTT Data and Honda |
| IMSA WeatherTech SportsCar Championship | Rolex 24 at Daytona Petit Le Mans 12 Hours of Sebring | Rolex and Michelin WeatherTech, Motul, and VP Racing Fuel Michelin and Aston Martin Racing |
Conclusion
Based on research, the motorsport market may reach a global revenue of 5.2 billion dollars by 2030, with a growth rate of 7.8%. Many thanks to the big brands that currently sponsor different sport races and the talented players from various teams. This has birthed a wider audience, as brands keep attracting thousands of young fans with diverse interests.
