article-img

Formula 1’s Largest Team Sponsors of 2024 Unveiled

1 years ago By Sports Desk

Formula 1, as an area where big money revolves, has revealed the five major sponsors of the teams for 2024. Major brands such as Ferrari, Mercedes and Red Bull invest significant amounts annually in F1 projects, making the sport an attractive area for major sponsors.

F1 has become profitable in recent years and the budget limitation that keeps costs under control allows teams to be profitable. This situation can also be attributed to the fact that many external sponsors pay big money to take part in the teams’ vehicles.

Alongside the teams, F1 is also benefiting from its growing popularity. Formula One Management has recently signed multi-year agreements with sponsors such as Aramco, Crypto.com and LIQUI MOLY.

Biggest External Sponsors of F1 Teams in 2024:

1. Oracle – Red Bull Racing – $90 million
2. Aramco – Aston Martin – $75 million
3. Petronas – Mercedes – 70 million dollars
4. Stake-Stake F1 Team – $50 million
5. Bybit – Red Bull Racing – $40 millions

Oracle
Oracle, a software company long involved in F1, stands out as the largest external sponsor, contributing an impressive $90 million annually to Red Bull Racing. In addition to financial contribution, Oracle collaborates with the team in the field of software. Technology plays an important role in pit stop strategies and tactical operations.

Aramco
In addition to being an indispensable asset for F1, Saudi Arabia’s oil giant Aramco operates as one of the general sponsors of not only Aston Martin, but also F1. With its investment of $75 million, Aramco appears not only in the cars of Lance Stroll and Fernando Alonso, but also as the sponsor of the race on many tracks.

Petronas
Malaysia’s fuel supplier Petronas maintains a solid partnership with Mercedes, not only providing fuel but also making a significant financial contribution of around $70 million annually. Half of Mercedes’ financial limits have already been met with this annual partnership.

Stake
Australia-based Stake is taking important steps in F1. While it was initially known as an important sponsor of the Alfa Romeo team, in 2024 it moved up to the next level and became the main and principal sponsor of Sauber. This agreement, which will run until 2025, offers the Switzerland-based F1 team two seasons worth $50 million per year. At the same time, the betting company plans to launch an impressive activation campaign in F1; This shows other F1 teams that F1 is still an effective platform for marketing.

Bybit
In fifth place, cryptocurrency Bybit contributes $40 million to Red Bull Racing. With a contract valid until the end of 2024, Bybit looks set to continue sponsoring Red Bull Racing as a major cryptocurrency platform. Along with Oracle’s team sponsorship, Bybit is launching a digital collection called Velocity Series.

Leave a Reply

Your email address will not be published. Required fields are marked *

More Recommendations
Unlock a World of Endless Discoveries: Your Personalized Recommendation Engine
article-image

French racing driver and Formula 2 champion Theo Pourchere has recently found himself at the center of a wave of… Read More

1 years ago Sports Desk
article-image

Hi, F1 fans all round the world, feel like you are getting bored!And why not will you get bored the… Read More

1 years ago Sports Desk
article-image

This is a milestone in investment by Alpine team drivers for F1 2025, whereby both parties have identified Franco Colapinto… Read More

8 months ago Jhon Trevor
article-image

“We are very excited to welcome Johann to the LCR Honda Castrol team, with all the respective details and signatures… Read More

2 years ago Sports Desk
article-image

During my sophomore year at the University of Nevada, I first spotted the sleek Red Bull Mini speeding across campus…. Read More

1 years ago User
article-image

During the race weekend at Mugello, it seemed certain that Jorge Martin would move to Ducati’s factory team in 2025… Read More

1 years ago Sports Desk
Stories Going Viral
Unleashing the Power of Stories
article-image

The MotoGP World Championship will have concessions in the 2024 season. The official site of MotoGP had already advanced this news in recent months, and… Read More

1 years ago Sports Desk
article-image

Valtteri Bottas admits a five-year denial of confrontation with Lewis Hamilton at Mercedes in Formula 1. Finn Valtteri Bottas has… Read More

1 years ago Sports Desk
article-image

As the 2024 MotoGP season approaches, fans in the US, Europe and India can’t wait for exciting world-class motorcycle racing…. Read More

1 years ago Sports Desk
article-image

Innovation and cutthroat competition have been a constant in the MotoGP paddock and Yamaha appears to be willing to shake… Read More

1 months ago Nielson Ross
article-image

Formula 1 fans, start your engines! The F1 Qatar Airways Qatar Grand Prix® is revving up for an unforgettable race… Read More

2 years ago Sports Desk
article-image

The qualifying session for the 2024 Formula 1 Australian Grand Prix was full of action and excitement, setting the stage… Read More

1 years ago Sports Desk
Join Our Exclusive Newsletter and Stay in the Loop!
[newsletter_form form="1"]