THE STAGGERING FINANCIAL VALUE OF FERRARI HP TITLE SPONSOR DEAL REVEALED AFTER ‘HISTORIC’ MOVE

Ferrari’s landmark title sponsorship deal with American technology giant HP is reportedly worth “two-thirds” of the budget cap, according to Will Buxton.

That’s a not unsubstantial $90m per season!

Ferrari have signed a ‘multi-year’ title sponsorship deal with HP

Ferrari announced on Wednesday they’d signed a “multi-year” title sponsorship deal with HP that will see the team officially called ‘Scuderia Ferrari HP’.

Based on the agreement, the HP logo will feature on Ferrari’s F1 livery from next week’s Miami Grand Prix onwards, as well as on the team kit and overalls.

No financial details were revealed.

However, according to F1 journalist Buxton, it’s a deal that’s worth $90m per season for the Scuderia.

“A huge deal for Ferrari, with my understanding that its financial value will cover 2/3 (66%) of the budget cap per annum,” he wrote on X. “A massive partnership.”

That would put it ahead of Red Bull’s Oracle deal with the software giant having signed to become Red Bull’s title sponsor back in 2022.

The Oracle-Red Bull deal is reportedly worth $300 million for the five-year duration according to Reuters.

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Ferrari CEO Benedetto Vigna welcomed the new HP deal, which also extends to Ferrari’s F1 Academy and esports programmes.

“Our founder passed on to us his continuous will to progress. From this stems our drive to innovate on the road and on the track, as well as our commitment to a sustainable future, from carbon neutrality to the education of the younger generation,” he said.

“In HP we have found the same values, which make it an ideal partner. We look forward to starting our collaboration and facing new opportunities and challenges together.”

Ferrari, meanwhile, announced earlier this week that they would run a one-off blue livery at the Miami Grand Prix.

The new look is to mark Ferrari’s anniversary in the American marketplace and will see the SF24 of Charles Leclerc and Carlos Sainz decked out in two different shades of blue.

2024-04-25T08:10:21Z dg43tfdfdgfd