As Lewis Hamilton prepares to join Ferrari, the storied Italian Formula 1 team is poised to secure a high-profile sponsorship agreement. After the conclusion of their ‘Mission Winnow’ initiative with long-time tobacco supporter Philip Morris, Ferrari has been without a title sponsor for a time.
With Hamilton’s anticipated arrival, which will see him command a significantly higher salary than his predecessor Carlos Sainz, Sport Business has reported that Ferrari is on the brink of unveiling a sponsorship contract with Hewlett-Packard (HP).
“Driver salaries do not count against Formula 1’s ‘cost cap’,” F1 journalist Matthew Williams clarifies, “allowing teams an unlimited spend on star acquisitions.”
According to Sport Business, the annual value of the Ferrari-HP deal is “comparable” to Red Bull’s major sponsorship with Oracle, indicating its substantial potential impact.
Neither Ferrari nor HP have made any official statements regarding the partnership as of yet.
GMM
