Ferrari snatches Aston Martin’s sponsors to replace Velas and Snapdragon

Carlos Sainz’s personal sponsor Estrella Galicia to be absent from next year's Ferrari car.

The Ferrari SF-23 (Image credit: Autoweek)

Ferrari’s dominant presence in Formula 1 makes them the most marketable team worldwide, primarily due to their massive and devoted fanbase. As the oldest team in the sport, based in Maranello, Ferrari holds a unique position and maintains the highest revenue across the grid, despite not having secured a championship victory in over a decade.

Ferrari receives numerous sponsorship offers, but they are selective about their associations. Recently, they ended partnerships with Velas, a crypto company, and Snapdragon, costing them $48 million. However, the Scuderia clinched a $10 million deal with Peroni 0.0, Aston Martin’s current sponsor. Peroni partnered with rival team Aston Martin for three years and will leave the team in 2024.

Every year, Ferrari has numerous partners and sponsors backing their efforts. They have attracted support from various sectors, including technology and energy companies. Ferrari’s ability to appeal to a wide range of industries is evident from its diverse pool of financiers.

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Also read: Carlos Sainz opens up about his confidence in Ferrari after Laurent Mekies’ departure

Ferrari obtained benefits for being the only team to race in F1 since 1950

Ferrari’s 1000th Grand Prix celebration (Image credit: Ferrari.com)

Ferrari’s red cars are iconic symbols of F1 racing. The presence of Ferraris and their devoted fans, the Tifosi, is an essential aspect of every F1 season. Interestingly, F1’s commercial agreements encourage Ferrari’s involvement by providing them with extra prize money.

Ferrari’s higher prize money in F1 is its uninterrupted participation in the championship since its inaugural season in 1950. As the most successful team in the sport’s history, Ferrari receives a remarkable yearly bonus of $35 million on top of their regular prize earnings, setting them apart from other teams.

Peroni is leaving Aston Martin as sponsor after the end of the season. Peroni will replace Estrella Galicia as Ferrari sponsor

Curious fact, Estrella Galicia came as partner to Ferrari, when Carlos Sainz signed with the Scuderia in 2021

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— Aston Martin F1 updates (@startonpole) July 28, 2023

Ferrari receives more prize money in F1 because they are the only team to have participated in every F1 World Championship since its inception in 1950. Additionally, their outstanding success with 31 world titles, a combination of constructors’ and drivers’ championships, further cements their dominance in the championship.

Ferrari’s exceptional longevity was commemorated in 2020 when they proudly declared completing 1000 Grands Prix, a remarkable achievement showcasing their enduring presence in the sport. Nevertheless, Ferrari’s special treatment extends beyond its status as the longest-running team in the championship. Their historical involvement in the political aspects of the sport has contributed to their preferential treatment over the years.