F1: Chipotle ‘priced out’ of deal with team like Red Bull

Company’s CMO Chris Brandt reveals most F1 sponsorship deals too expensive.

Chipotle’s chief marketing officer Chris Brandt has revealed the company would have been “priced out” of a deal with a Formula One team like Red Bull. 

Confirmed:

  • Chipotle signed a season-long deal with Haas in February
  • Brandt reveals contract “is in the early stages”, suggesting a future extension
  • Haas team principal Guenther Steiner played key role in agreeing deal
  • Activation at Miami Grand Prix produced Chipotle’s most liked and engaged Instagram post ever
  • Brand visibility in the Middle East a big factor in entering into Formula One sponsorship

Context:

Chipotle seized upon the growing interest around Formula One in the US, becoming yet another US-based company to sign up with the sport’s only US-based team. Haas already has a ‘US$20 million per year’ contract with MoneyGram.

Comment:

Brandt told financial news site The Street: “We might have been priced out if we wanted to be with Red Bull or somebody else. It's okay to be with a team that isn't contending for the wins … You don’t need to be a winner in Formula One.”

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Chipotle (@chipotle)


Coming next:

The Street reveals that Chipotle is expected to ramp up its activity around the remaining races in the US, the United States Grand Prix and the Las Vegas Grand Prix.

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