The top 5 sponsors for the 2024 F1 Season

In the high-speed arena of Formula 1, the 2024 season shines with a stellar roster of sponsorships, highlighting the sport's magnetic appeal and financial vigour. Discover the leading partnerships fuelling the quest for glory in this thrilling chapter of F1's storied legacy
Picture of Elizabeth Jenkins-Smalley

Elizabeth Jenkins-Smalley

Editor In Chief at The Executive Magazine

Formula 1 continues to attract significant sponsorship, underscoring its status as a premier motorsport. With a budget cap enhancing team profitability, the 2024 season sees top brands further investing in the sport, reflecting its growing popularity and financial health.

Esteemed marques like Ferrari, Mercedes, and Red Bull are at the forefront, channeling significant resources into their F1 engagements. The imposition of a budget cap has paradoxically enhanced the sport’s profitability by reining in expenditures, thus rendering the teams’ ventures increasingly viable. This financial health is bolstered by the infusion of capital from a plethora of sponsors, each vying for prominence on the global F1 stage.

Furthermore, the Formula One Management’s recent endeavours to secure multi-year agreements with high-profile sponsors such as Aramco, Crypto.com, and LIQUI MOLY are testament to the sport’s escalating appeal. This broadening base of support reflects not only on the teams but also on the sport’s governing body, showcasing a mutual prosperity.

Oracle – $90m

The American software giant, boasting a long-standing affiliation with Formula 1 dating back to the 1990s, has now aligned its interests with Red Bull Racing. Oracle’s commitment extends beyond mere financial support, contributing significantly to the team’s strategic operations through advanced software solutions. This partnership is emblematic of the evolving role of technology in the sport, with Oracle playing a pivotal role in Red Bull Racing’s quest for supremacy.

Aramco – $75m

The Saudi oil conglomerate emerges as another heavyweight sponsor, particularly with its comprehensive sponsorship of Aston Martin and the sport itself. This dual role amplifies its visibility, intertwining its brand with the fabric of Formula 1. The 2024 season marks a milestone for Aramco, as it becomes the titular sponsor for the Aston Martin team, an indication of its escalating investment and potentially heralding a deeper involvement in team ownership in the pursuit of sustainable fuel technologies.

Petronas – $70m

The Malaysian fuel titan continues its integral partnership with Mercedes, underpinning the team’s engine performance with cutting-edge fuel technologies. This collaboration is not only strategic but also financially robust, contributing significantly to Mercedes’ operational budget.

Stake – $50m

The Australian betting firm has significantly increased its F1 footprint by becoming the principal sponsor of the Sauber team for the 2024 and 2025 seasons. This move is accompanied by an aggressive marketing campaign, underscoring Formula 1’s enduring appeal as a marketing powerhouse, even for teams that may not always be at the forefront of the grid.

Bybit – $40m

Rounding out the top five is Bybit, a cryptocurrency exchange that has been a Red Bull Racing partner since 2022. This collaboration highlights the innovative edge of Formula 1 sponsorships, with the partnership yielding unique digital collections for fans, emphasising the sport’s digital engagement strategy.

Continue reading