Currently ten companies have global Formula 1 partner status – Aramco, AWS, Crytpo.com, DHL, Emirates, Heineken, MSC Cruises, Pirelli, Rolex and Salesforce. As it became known at SportBusiness, the championship leadership is looking for a replacement for Emirates.
The current sponsorship deal with the Dubai airline will expire at the end of 2022, the parties have long been negotiating an extension, but have not reached an agreement. The reason was the disagreement over the cost of the contract – in Formula 1, they pushed for a doubling of the airline’s sponsorship payments, which currently amount to $25 million a year according to various estimates.
The new terms of cooperation did not suit Emirates, and now in Formula 1, they are looking for another airline willing to pay for the status of a global partner of the championship.
Source: F1 News
I’m Todderic Kirkman, a journalist and author for athletistic. I specialize in covering all news related to sports, ranging from basketball to football and everything in between. With over 10 years of experience in the industry, I have become an invaluable asset to my team. My ambition is to bring the most up-to-date information on sports topics around the world.
