How much does Santander sponsor F1?
Spanish banking giant Santander and Ferrari will conclude their sponsorship agreement at the end of 2024 as the reported $60 million-a-year deal comes to an end. A three-year contract was agreed in 2021, renewing a partnership that had initially run from 2010 to 2017. A primary goal of the deal is to increase Santander’s brand visibility in the US. The Williams Racing Formula 1 (F1) motor racing team has announced a new multi-year partnership with Spanish bank Santander that will begin in 2025.Santander’s relationship with F1 goes way back. Since 2006, we’ve sponsored races, teams like Scuderia Ferrari and McLaren, and drivers such as Fernando Alonso, Lewis Hamilton and Carlos Sainz.
How much does an F1 team sponsorship cost?
The cost of team sponsorship varies widely, but it is estimated to be in the range of $2 million to $50 million per year. F1 Team Technology Partnership: Technology partnerships are another popular form of sponsorship in Formula 1. Ferrari have reportedly drawn level with Red Bull in the big money business of F1 team sponsors. A year ago, Oracle’s partnership with Red Bull was the biggest team sponsor in the paddock. But now the arrival of HP to sponsor Ferrari has rivalled that huge deal.Expenses for F1 partnerships: entry level Again, if we’re looking at ballpark figures, sponsorship deals in F1 start at $1Mil. For that sum, there’s very little branding on cars. Your logo will show up in the teams’ communication materials and media but other than that, exposure is limited.RacingNews365 understands that Red Bull and Ferrari receive around $100 million in sponsorship money from Oracle and HP. As a result, the two brands top the list of biggest outside sponsors in F1, with Aramco in third place.