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

Is Colton Herta F1 WORTHY?

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.