Ferrari reportedly lands lucrative title sponsorship deal with HP

©Ferrari

Ferrari is reportedly set to announce a new title sponsorship deal with US technology giant Hewlett-Packard that is expected to come into effect at next week's Miami Grand Prix.

According to Sport Business, the Scuderia’s commercial and technical agreement with HP will deliver a significant windfall to the Italian outfit, making it one of the most lucrative deals in F1 history.

It will also no doubt help the team afford the hefty eight-figure salary commanded by its future driver, seven-time F1 world champion Lewis Hamilton, who will join the outfit in 2025.

HP, a renowned computer hardware brand headquartered in California, will be Ferrari's first title sponsor since 2021, ending a two-season period without an official sponsor.

Read also:

Ferrari goes blue: Miami GP livery to honor North American legacy

The collaboration with Ferrari is expected to integrate HP technology into the team's operations, leveraging Formula 1's platform for showcasing innovative brands.

HP's involvement in F1 dates back to its sponsorship of Williams Racing from 2000 to 2005, indicating a familiarity with the sport's dynamics.

Additionally, Hewlett Packard Enterprise (HPE), a division of HP, has partnerships with Mercedes and the Sauber-owned Stake F1 team.

The decision to partner with HP marks a strategic shift for Ferrari, following the conclusion of its controversial contract with Philip Morris International (PMI) and the Mission Winnow initiative.

However, Ferrari’s long-standing partner remains involved with the Scuderia, primarily focusing on hospitality rights.

Ferrari's recent commercial endeavors, spearheaded by former AC Milan executive Lorenzo Giorgetti, who was appointed as its chief racing revenue officer in January 2023, have aimed at expanding its premium partner network, which includes brands like Shell, Santander, and Puma.

This network will now be bolstered by HP's title sponsorship, solidifying Ferrari's position as a commercial powerhouse in Formula 1.

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.