Formula E is a relatively new motorsport that has been gaining popularity in recent years. With its focus on sustainability and electric power, it has attracted many fans and sponsors alike. If you’re interested in sponsoring Formula E, you’re likely wondering how much it will cost you. In this article, we’ll take a look at the different levels of sponsorship available in Formula E and their associated costs.
The importance of Formula E sponsorship
Before we dive into the specifics of sponsorship costs, it’s important to understand what Formula E is and why it’s attracting so much attention. Formula E is a single-seater electric vehicle racing championship that was launched in 2014. Unlike traditional motorsports that rely on gasoline engines, Formula E cars are powered by electric motors and use rechargeable batteries. The series is sanctioned by the Fédération Internationale de l’Automobile (FIA) and consists of a series of races held on street circuits in major cities around the world.
The popularity of Formula E is due in part to its focus on sustainability and environmental responsibility. By promoting electric power and sustainable technologies, Formula E has positioned itself as a leader in the fight against climate change. In addition, the series has attracted a number of high-profile sponsors, including BMW, Audi, and Jaguar, among others.
Now let’s take a look at the different levels of sponsorship available in Formula E and their associated costs.
Team Sponsorship
The most common form of sponsorship in Formula E is team sponsorship. Teams are typically owned by private investors or car manufacturers and compete in the championship on a regular basis. Team sponsors have their logos displayed prominently on the cars and team clothing, as well as on any promotional materials associated with the team.
The cost of team sponsorship in Formula E can vary widely depending on the level of exposure and involvement desired. On the low end, a small sponsorship package might cost around $1 Million per season. This would typically include branding on the car and team clothing, as well as some hospitality benefits such as access to the team’s garage and paddock area. On the high end, a major team sponsor might pay upwards of $15 million per season for a comprehensive package that includes exclusive branding, VIP hospitality, and other perks.
Race Title Sponsorship
Another level of sponsorship available in Formula E is race title sponsorship. This involves sponsoring a specific race on the championship calendar, such as the Berlin E-Prix or the New York City E-Prix. Race title sponsors typically have their logos prominently displayed on all promotional materials associated with the race, as well as on the cars and team clothing during the race weekend.
The cost of race title sponsorship in Formula E can also vary widely depending on the level of exposure and involvement desired. A major race title sponsor might pay upwards of $2 million for a comprehensive package that includes exclusive branding, hospitality opportunities, and other perks. This would typically include branding on all promotional materials associated with the race, access to the VIP lounge and pit lane walks.
Championship Sponsorship
The highest level of sponsorship available in Formula E is championship sponsorship. This involves sponsoring the entire championship and having your brand associated with the series as a whole. Championship sponsors typically have their logos displayed prominently on all promotional materials associated with the championship, as well as on the cars and team clothing throughout the season.
The cost of championship sponsorship in Formula E is typically the highest of any sponsorship level. On the low end, a small championship sponsorship might cost around $5 million per season. This would typically include branding on all promotional materials associated with the championship, as well as some hospitality benefits such as access to the VIP lounge and pit lane walks. On the high end, a major championship sponsor might pay upwards of $20 million per season for a comprehensive package that includes exclusive branding, VIP hospitality, and other perks.
It’s worth noting that the costs outlined above are estimates and can vary widely depending on a number of factors, including the specific team or race being sponsored, the level of exposure and involvement desired, and the negotiating skills of the sponsor. In addition, there may be additional costs associated with sponsorship, such as activation costs (i.e. the cost of implementing marketing and promotional activities to promote the sponsorship) and production costs (i.e. the cost of creating branded materials).
Despite the potentially high costs of sponsorship, Formula E has attracted a number of high-profile sponsors over the years. In addition to BMW, Audi, and Jaguar, other sponsors include ABB, DHL, Heineken, and Michelin, among others. These sponsors have recognized the value of associating their brands with a series that promotes sustainability and innovation, and have seen positive returns on their investments in terms of increased brand awareness, customer engagement, and sales.
In addition to traditional sponsorship opportunities, Formula E also offers a number of other ways for brands to get involved with the series. These include:
- Official Supplier: Brands can become official suppliers to Formula E by providing goods or services that are essential to the operation of the series. For example, Michelin is the official tire supplier of Formula E, while ABB is the official charging partner.
- Innovation Partner: Brands can partner with Formula E to help develop new technologies and innovations that can be applied to the series and beyond. For example, Jaguar has partnered with Formula E to develop new electric powertrain technology that is now used in its production vehicles.
- Sustainability Partner: Brands can partner with Formula E to help promote sustainability and environmental responsibility. For example, DHL is the official logistics partner of Formula E and has helped the series reduce its carbon footprint by implementing sustainable logistics practices.
In Conclusion
In conclusion, sponsoring Formula E can be a significant investment, but it offers a unique opportunity for brands to associate themselves with a series that is leading the way in sustainability and innovation. The costs of sponsorship can vary widely depending on the level of exposure and involvement desired, but there are a number of opportunities available to brands beyond traditional team and race title sponsorship. With the right approach and strategy, sponsoring Formula E can be a worthwhile investment that can provide significant benefits in terms of increased brand awareness and engagement.
Get in touch with us at RTR Sports Marketing today to learn more about navigating your way through the exciting world of Formula E Sponsorship or send a message at info@rtrsports.com .
