Formula 1 signs huge new sponsorship deal with major brand to continue meteoric rise in the USA
Formula 1 has signed a lucrative new sponsorship deal with American Express as it continues to strengthen its foothold in the US.
The sport has gone from strength to strength in the States following the meteoric success of Netflix series Drive to Survive, with three US races now on the calendar.
Brands are desperate to sign up to sponsorship deals with the ever-growing sport, and now Amex has agreed a new multi-year contract.
The deal will enable Amex customers to book presale tickets and expand their presence at Grand Prix – with cardholders already having access to free Race Radios to tune into commentary around the track.
Reflecting on the news, American Express’s chief marketing officer Elizabeth Rutledge said: ‘We are thrilled to expand our relationship with Formula 1, building on the strong momentum of the sponsorship in the Americas over the past year.
‘This demonstrates yet another way we are continuously enhancing the value of American Express Membership for Card Members around the world. With more than 300 million fans worldwide age 18-34, F1 continues to grow in popularity and as a passion area for Millennials and Gen Z – American Express’ fastest growing customer segment.’
Amex will also have additional, as yet-unspecified perks at a further 15 races next season, including in Austin and Las Vegas – two of the three tracks on US soil.
The US bank were also early sponsors of F1’s Academy series, which sees up-and-coming female drivers compete on F1 race weekends around the world.
F1’s chief commercial officer Emily Prazer said: ‘American Express has been a fantastic partner to Formula 1 in the Americas and as a supporter of F1 ACADEMY, and I’m delighted that they have chosen to expand their relationship with us to become an Official Partner.
‘We look forward to working with Amex to enhance the experience of Card Members at our races and showcasing Amex perks to our existing fans everywhere we race.’
F1 is perhaps at its peak of popularity, with 23 races each season taking in all four corners of the globe.
After a successful weekend in Austin, Texas the F1 roadshow rolls on to Mexico City this weekend, before Brazil and Las Vegas in the coming weeks.
