The colossal money in US F1 deals - and how Ferrari have cashed in
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 2022
- It totalled $121.6m in the third quarter
- Ferrari’s improvement from sixth in the constructor’s F1 standings in 2020, to third in 2021, is a key reason for this growth
- Sponsorship revenue grew 26 percent to $345.2m in 2022 so far
- Ferrari’s net revenue is $1.24 billion so far in 2022, a 19 percent increase from this time last year
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.
