The world of Formula 1 is no stranger to big sponsorships and partnerships, but the latest announcement from 96M is set to shake things up in a major way. The Asian financial technology company has just signed a multi-year deal to become the official sponsor of the Formula 1 World Championship, marking a new era of Asian sponsorship in the sport.
The deal, reportedly worth upwards of $100 million, is set to bring a fresh perspective to the world of Formula 1. With a growing fan base in Asia, the partnership between 96M and Formula 1 is set to capitalize on the region’s love for the sport and bring new opportunities for growth and engagement.
Speaking about the partnership, 96M CEO, Li Xiaolong, expressed his excitement at the prospect of working with Formula 1. “We are thrilled to be joining forces with one of the most iconic and prestigious sporting events in the world,” he said. “Formula 1 represents the pinnacle of motorsport, and we are excited to be a part of its future.”
The deal will see 96M’s logo prominently displayed on the cars, driver suits, and team apparel of all Formula 1 teams. In addition, the company will also be featured in a variety of promotional activities, including advertisements, social media campaigns, and special events.
This move signals a shift in the world of sponsorship in Formula 1, with Asian companies increasingly playing a larger role in the sport. With more and more fans in the region, Formula 1 is keen to tap into the potential of the Asian market and attract new sponsors and partners.
Formula 1 CEO, Stefano Domenicali, praised the partnership with 96M, stating that it marks an exciting new chapter for the sport. “We are delighted to welcome 96M to the Formula 1 family,” he said. “Their commitment to innovation and excellence mirrors our own values, and we are confident that this partnership will bring great success for both parties.”
As the countdown to the start of the new Formula 1 season begins, all eyes will be on the 96M logo as it makes its debut on the track. With a new era of Asian sponsorship dawning in Formula 1, the sport is set for an exciting and prosperous future ahead.