McLaren Racing secure Mastercard as major F1 sponsor

The McLaren Formula One team have agreed a major sponsorship deal with payments provider Mastercard.

Contract:

• Multi-year deal sees Mastercard become a major sponsor of the Woking-based outfit
• Mastercard branding will appear on the car later in the 2024 season
• Customers will gain access to Formula One opportunities through Mastercard Priceless Experiences

Context:

Mastercard returns to Formula One after 23 years, having partnered with Eddie Jordan’s eponymous team between 1998 and 2001. Prior to that, the brand formed part of the infamous Mastercard Lola team, which failed to qualify for its one and only race in Formula One in 1997.

According to RacingNews365, McLaren beat Mercedes to the signature of the global payments provider. Mastercard may have looked at the visible presence of its commercial rivals in the series and wanted a similar position. Visa is the current title sponsor of the RB team and American Express is Formula One’s regional partner in the Americas.

Comment:

Zak Brown, chief executive of McLaren Racing, said: “Mastercard is an incredible brand with the iconic red and yellow logo instantly recognisable wherever you are in the world.

“Mastercard shares our absolute passion for offering fans fantastic experiences and opportunities to truly feel part of our growing global racing community – and we are delighted to welcome them to the McLaren Racing family.”

Coming next:

With no confirmation yet on when Mastercard will debut on the team’s car, McLaren return to action at this weekend’s Belgian Grand Prix from 26th to 28th July.

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