Ferrari Announces Multi-Year Title Sponsorship Deal with HP

Ferrari has signed a multi-year title sponsorship agreement with American technology giant HP Inc. The partnership, which spans across Ferrari's Formula One racing team, esports team, and driver academy, aims to drive forward sustainable innovation and technological excellence.

Starting at the upcoming Miami Grand Prix on May 3-5, 2024, the iconic Maranello-based F1 team will be rebranded as Scuderia Ferrari HP, sporting the HP logo on their cars, driver overalls, and team kit. The collaboration also extends to the Scuderia Ferrari Esports team and the Ferrari car competing in the all-female F1 Academy series, piloted by Maya Weug.

As part of the agreement, Ferrari will deploy advanced HP technology and services, including adaptive PCs and devices, collaboration products, and printing capabilities, to enhance performance both on and off the track. The integration of HP's state-of-the-art solutions is expected to help accelerate the team's strategic decision-making and training precision.

Why this matters: The Ferrari-HP partnership represents a significant milestone in the world of Formula One, bringing together two iconic brands with shared values of innovation, performance, and sustainability. This collaboration has the potential to reshape the technological landscape of the sport and drive meaningful advancements in areas such as high-performance computing and sustainable practices.

Ferrari CEO Benedetto Vigna expressed his excitement about the partnership, stating, "Ferrari and HP are built on rich histories and share a commitment to innovation and sustainability. We look forward to facing new opportunities and challenges together." HP CEO Enrique Lores echoed these sentiments, emphasizing that the collaboration will enable them to reach new audiences, drive business growth, and create a lasting impact for their shared clients and communities.

Beyond the realm of motorsport, the partnership aims to leverage the combined heritage and purpose of both companies to make a tangible impact on future generations through expanded educational initiatives. The reveal of the Scuderia Ferrari HP livery will take place ahead of the Miami Grand Prix, with representatives from both Ferrari and HP in attendance.

The financial details of the sponsorship deal have not been disclosed, but industry experts estimate its value to be around $90 million per season, covering a significant portion of Ferrari's budget cap. The Scuderia Ferrari HP team currently sits second in the 2024 F1 constructors' standings after five races, and the new partnership is expected to provide a boost to their championship aspirations.

Key Takeaways

• Ferrari signs multi-year title sponsorship deal with HP Inc. for F1 team.
• Scuderia Ferrari F1 team to be rebranded as Scuderia Ferrari HP starting 2024.
• Partnership to integrate HP's advanced technology and services to enhance performance.
• Estimated $90 million per season deal, covering a significant portion of Ferrari's budget.
• Partnership aims to drive sustainable innovation and technological excellence in motorsport.