Ferrari is set to welcome HP as its first title sponsor since 2021 next season, in a deal comparative to Oracle’s lucrative backing of direct Formula 1 rival Red Bull.
Sports Business reports that Hewlett Packard (HP) will become Ferrari’s title partner in a deal worth in the region of $90 to $100 million to be announced in Miami.
The deal, which will also see the two brands enter into a technological partnership, will begin at the same point Lewis Hamilton completes his switch to the marque.
Ferrari last had a title partnership with Mission Winnow following the signing of an agreement with United States tobacco brand Philip Morris International (PMI).
F1 fans of a millennial persuasion will remember HP’s major presence during the Williams BMW days in the nascent 2000s, back when the team challenged for wins.
During those days, when direct tobacco sponsorship was still permitted, Ferrari wore the branding of PMI’s Malboro in a deal that ran from 2007 through 2011.
HP will be the latest major brand partnership announced by Ferrari following its link-up with Peroni at the start of 2024.
The movement in the commercial sphere comes after two significant hires from the world of Italian professional football.
Since the start of 2023, Ferrari has poached two commercial heavy hitters from Seria A giants AC Milan.
The first came in January 2023, with the appointment of former AC Milan executive Lorenzo Giorgetti as Chief Racing Revenue Officer.
Then in July 2023, Ferrari dipped back into the AC Milan talent pool to hire the football franchise’s former Commercial Strategy Director George Prior to become the Scuderia’s Head of Partnership Asset Management.
The expected announcement in Miami will be presented in tandem with a modified livery for Ferrari next weekend.
Ferrari is set to take inspiration from its classic North American Racing Team (NART) blue and white colour scheme by implementing hints of blue on its one-off Miami livery.
Discussion about this post