McLaren has announced a new sponsor ahead of this weekend’s Formula 1 Belgian Grand Prix, in the shape of Mastercard, in what is described by the team as a “multi-year” deal.
It was reported back in May that the Woking-based outfit was in competition with Ferrari, Mercedes and Aston Martin for the global payment giants’ signature, and today’s announcement sees them become “a major sponsor” with their logo now set to adorn the papaya cars from “later in the season.”
The move further emphasises McLaren’s glistening portfolio of partnerships, signifying their steady progress towards the top of F1 once again.
It is Mastercard’s first venture back into Formula 1 for more than two decades.
The brand became the title sponsor for the brief and ill-fated works Lola team in 1997.
After encouraging Lola to bring its F1 entry plans forward due to rival bank HSBC’s sponsorship with the nascent Stewart Grand Prix team, the car failed to qualify for the opening round in Australia after producing a car that had not seen a test track nor a wind tunnel. Mastercard pulled their sponsorship before the next round in Brazil, ending Lola’s F1 dream.
The global payment provider then switched allegiances to Jordan Grand Prix, sponsoring the Silverstone-based squad (now running as Aston Martin) from 1998 through 2001.
Raja Rajamannar, Mastercard’s Chief Marketing and Communications Officer, said: “We are constantly exploring new ways to bring value to our customers and cardholders. Getting them closer to their passions, what they love most, is central to this, and racing has become one of the most exhilarating, universal passions globally.”
“For many people, McLaren is synonymous with racing – exciting, innovative, purpose-driven. We are thrilled to partner with them and to join our brands together in a meaningful way in the eyes of fans everywhere.”
McLaren’s CEO, Zak Brown added: “Mastercard is an incredible brand with the iconic red and yellow logo instantly recognisable wherever you are in the world.
“Mastercard shares our absolute passion for offering fans fantastic experiences and opportunities to truly feel part of our growing global racing community – and we are delighted to welcome them to the McLaren Racing family.”
