Formula 1 sponsorship landscape keeps evolving
More American technology firms jumping in on the action
There has been much movement amongst drivers and team principals this offseason. Additionally, there has been movement off the grid, specifically with sponsorships.
Ferrari recently announced new deals with Michigan, USA's Harman Automotive, and California software company Genesys.
This news follows the Maranello-based team's ending premium partnerships with Velas and Snapdragon.
With Snapdragon's parent company, Qualcomm, signing a deal late last year with Mercedes to provide cockpit chips to power the next-generation infotainment and connectivity systems, that move makes sense.
Crypto and crypto-adjacent companies, like blockchain collectibles platforms Tezos and Fantom, have ended their sponsorship of Red Bull and AlphaTauri, respectively. These separations come at a time of great concern about the entire cryptocurrency sponsorship boom in sports.
Last but certainly not least, sportswear brand Castore continues to skyrocket with an expansion of partnership with McLaren and taking Puma away from RedBull.