How Ferraris $10 Billion Sponsor Exit Could Reshape F1

Scuderia Ferrari, one of the most storied teams in Formula 1, is reportedly undergoing a significant change to its commercial partnerships. This development involves a major long-term sponsor and could have substantial financial implications for the team’s operations.

Main News

HP is set to become the new title sponsor for the Ferrari Formula 1 team. The partnership is described as a multi-year, multi-million dollar agreement.

This new deal with HP will see the technology company replace the current title sponsor, AWS. The Amazon Web Services branding has been prominently featured on the Ferrari F1 car and driver race suits.

The shift represents a major commercial change for the Italian team. The outgoing sponsor, AWS, is a subsidiary of the e-commerce and technology giant Amazon.

Summary

Ferrari is finalizing a new title sponsorship agreement with the technology company HP. The deal will position HP as the primary sponsor for the F1 team.

The new partnership will see HP replace Amazon Web Services (AWS). AWS has been Ferrari’s title sponsor, with its logo displayed on the car and team apparel.

This commercial shift involves a significant financial commitment from HP. The multi-year agreement is valued in the millions of dollars.

The change marks a substantial update to Ferrari’s sponsorship portfolio ahead of future racing seasons.

FAQs

**Who is Ferrari’s new sponsor?**
Ferrari’s new title sponsor is the technology company HP. The agreement is a multi-year deal.

Who is the new sponsor replacing?
HP is replacing Amazon Web Services (AWS) as the team’s title sponsor. AWS, a subsidiary of Amazon, was the previous holder of the sponsorship.

What is the value of the new sponsorship?
The exact financial terms have not been publicly disclosed. The deal has been described as a multi-million dollar agreement spanning several years.

Disclaimer: This report is for informational purposes only and does not constitute financial advice. All information is based on verified reporting available at the time of publication.