The Ferrari Formula One team have announced a multi-year partnership with software company Genesys.
Contract:
- The deal involves Ferrari's Hypercar endurance racing programme, including the 24 Hours of Le Mans
- Genesys gains branding on the Formula One's team car
Context: This represents the American software company's first step into Formula One, but it has previous experience in motorsport through its partnership with Andretti Autosport across IndyCar and Formula E. As reported last week, Ferrari have also finally confirmed the termination of their deal with Velas. According to RacingNews365, it was Velas' decision to end the partnership, but Reuters has reported a quote from a Ferrari spokesperson stating the deal was terminated early by the Italian team.
Comment: Benedetto Vigna, chief executive of Ferrari: “As another business focused on technological leadership they, like us, have a tireless approach to continuously improve and progress. I know that the synergies between our two businesses will deliver huge value on both sides.”
Consequence: With Ferrari reportedly facing a US$55 million shortfall in sponsorship following the loss of its deals with Velas and Snapdragon, the capture of Genesys on a multi-year deal will ease the pain. The software company logo will be displayed on the cars of Charles Leclerc and Carlos Sainz, the livery of which is set to be unveiled on 14th February.