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Ferrari

New Ferrari deal pushes Red Bull sponsor off top five most-lucrative list

At the beginning of the current F1 season, we listed the top five sponsors of Formula 1 teams. After the announcement of the HP-Ferrari title sponsorship deal, however, there has been a change on that list.

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Oracle was the largest outside sponsor of a Formula One team at the beginning of the current F1 season, with the American company having been associated with Red Bull Racing for many years. 

In addition, the company has another contract with Red Bull Racing in which they not only transfer a huge amount of money, but also play a major role in the software field within Max Verstappen's team. As of now, however, Oracle must share the first place in the top five sponsorship list of F1 teams with HP. 

Ferrari has in fact struck a huge blow in the sponsorship market with HP. RacingNews365 has learned that HP will transfer $100 million a year to the famed Italian team. On top of that, they will also supply the latest equipment to the Scuderia. 

This includes not only computers, but also 3D printers, which play a major role in today's Formula 1. Teams like to use modern technology and HP will be helping Ferrari with that. Thus Ferrari has killed two birds with one stone. 

For the top five external sponsors of F1 teams, however, it does mean that Red Bull Racing will see one sponsor disappear from the list. Bybit remits around $40 million a year to the Austrian team, but the arrival of HP will see the Crypto company disappear from the top five external sponsors of F1 teams. 

In the table below, we have listed the biggest five external team sponsors at the moment, based on the amount of money they transfer to the team. Looking at the total value of the deals, including software and hardware products provided by different sponsors, RacingNews365 understands that Oracle is probably still the largest external sponsor of an F1 team.

Note: all the figures below are estimates, based on consultations with different sources within the F1 paddock and at different teams.

Top 5 external sponsors of F1 teams in 2024

Classification Sponsor name Team Amount +/- in $
1. Oracle Red Bull Racing 100 million
1. HP Ferrari 100 million
3. Aramco Aston Martin 75 million
4. Petronas Mercedes 70 million
5. Stake Stake F1 Team 50 million

Oracle

Oracle is a software company that has long been active in Formula 1. Currently, the American company is active as a sponsor of Red Bull, but in the 1990s, it was also active in F1.

At that time, it was still working with the Benetton team, for which Jos Verstappen was driving at the time, so Oracle is a familiar name for the Verstappen family. 

Besides transferring a huge amount of money to Red Bull every year, they also lend a hand in the field of software. 

Software has become increasingly important in Formula 1, and therefore, Oracle is logically more than just a sponsor for the team. For example, Oracle's software supports Red Bull's tactical team while making calculations of pit stop strategies. 

HP

In Miami, Ferrari announced a major partnership with HP. The American technology company even became the Scuderia's title partner, and for that they had to dig deep into its pockets.

In fact, HP has to transfer about $100 million annually to Maranello. That is a huge sum, but looking at the partnership Oracle has with Red Bull Racing, it seems to be more than paying off.

HP is featured large on the Ferrari car and will be for the next few years. The company develops hardware, including computers and 3D printing machines. 

Aramco

The oil group from Saudi Arabia is almost impossible to imagine Formula 1 without. In fact, the sponsor is active not only as a sponsor of Aston Martin, but also as a sponsor of Formula 1 as a whole.

As a result, we see Aramco not only on the cars of Lance Stroll and Fernando Alonso, but also at various circuits as a sponsor of the race itself. This makes the oil group an important, if not the most important external sponsor in Formula 1. 

As of 2024, the company is the only sponsor name in Aston Martin's team name, making the sponsorship amount towards the team even larger. Rumours are circulating that Aramco also have shares in Lawrence Stroll's team, but those remain just rumours for now. 

Perhaps in the next few years, however, Aramco will make the move to take control of an F1 team, as they are working hard to develop the "greenest fuel" in the world.

Petronas

The fuel supplier from Malaysia has also been running within Formula 1 for many years. Petronas has a strong partnership with Mercedes, for which it also supplies the fuel. Together the two parties work to provide the best fuel for both the team and the customer teams. 

In addition to the intensive cooperation on fuel development, Petronas also provides the Mercedes F1 team with a large multi-million dollar sum. Indeed, at around $70 million a year, half of Mercedes' cost cap is covered by them for Toto Wolff's team.

Stake

The Australian-based Stake is making great strides in Formula 1. Whereas it initially went through life as a major sponsor of the Alfa Romeo team, in 2024 it has stepped it up a notch. Indeed, from 2024 they will be Sauber's main and title sponsor. 

They will continue to be so in 2025, giving the Swiss-based Formula 1 team two seasons of around $50 million a year. It will not stop there, as the gambling company plans to launch a hefty activation campaign in Formula 1 as well. 

This is something that also proves to the other F1 teams that Formula 1 is still booming, as the Stake F1 Team did not otherwise deliver great performances in 2023. 

Despite this, the team managed to show a major sponsor in the marketing department that F1 can be very effective in terms of marketing.

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