In many articles of this blog we have attempted to answer the question “how much does sponsorship cost…? This is a key question when we face a sponsorship project in a company, and it is one of the first questions that is asked to sport marketing agencies such as ours.
Today we want to deal with the cost of the sponsorships in the Formula 1 environment. The Formula 1 championship has always been one of most interesting activities for those who study sports marketing and it is also a common case study in the sponsorship world. In fact, it is from Formula 1 that the concept of modern sport sponsorship developed, and it is here that we can still find the most surprising advancements of the discipline.
Such as MotoGP, also F1 is a sport with planetary visibility, and it has the extraordinary (and very rare) characteristic of being an mobile communication platform: every 7 or 15 days the circus goes to a different country, bringing the possibility of engagement on site, hospitality opportunities etc…
The common belief is that the pinnacle of racing is among the most expensive sports to invest in. Many people imagine Ferrari, Mercedes, and McLaren not only as Teams, but as symbols of speed, performance, excellence and technology. The truth is that F1 sponsorship deals have a wide range and can go from the hundreds of millions invested by Red Bull to the 250.000 euros for back of the grid sponsorship packages.
With the help of the Business Book we try to give a more detailed answer, showing the big picture of the sponsors and partners of Formula 1. We have arranged the numbers in different tables which are divided per team: for each one it is possible to find a sponsor or partner. Data refers to the 2020 season.