Ferrari is on the verge of securing a significant sponsorship deal with Hewlett Packard (HP), according to a report from SportBusiness. This partnership is expected to rival the financial scale of the current agreement between Oracle and Red Bull, signaling a major collaboration in the world of Formula 1.
The official announcement of this deal is expected to take place in Miami, coinciding with a significant Formula 1 race weekend. Sources indicate that the contract could be worth between $90 million to $100 million per year.
However, this agreement goes beyond purely financial terms. It is likely to include a technological partnership similar to that of Oracle and Red Bull. This collaboration may provide Ferrari with crucial advanced technological support for car development, highlighting the growing importance of software and technology in Formula 1.
Although the contract has not yet been officially signed, it is worth noting that Ferrari usually announces such agreements within 48 hours after signing. So far, no announcement has been made, suggesting that the deal may not be finalized until the next season. This situation is reminiscent of the early announcement of Ferrari’s partnership with Peroni in 2023, which only came into effect in the following season.
The upcoming race weekend in Miami is expected to be a focal point for F1 teams, not only for racing but also for significant movements in the sponsorship and driver market. It is important to note that all major team executives and sponsors will be present, in contrast to races with lower attendance in China and Japan.
If confirmed, this agreement represents a significant milestone for Ferrari as they continue to adapt and thrive in the technology-driven landscape of modern Formula 1. The partnership with HP has the potential to unlock new possibilities in terms of car performance and competitive advantage, leveraging HP’s technological expertise. Therefore, the race weekend in Miami is poised to be a crucial moment for Ferrari, potentially ushering in a new era of technological advancement and financial support for the team.
