Faster cars mean faster money

Sponsoring a Formula One team is not just something that happens on 16 weekends every year – it’s a 365 days-a-year business. Having your company’s logo blasting around the track in front of millions of people on television is only the tip of the iceberg when it comes to making the most of being a Formula One sponsor.

Grand Prix drivers are now such famous sportsmen that they can be used just like footballers and film stars in television adverts. Ferrari sponsor Vodafone has used Michael Schumacher alongside England soccer star David Beckham in its television commercials, while German car manufacturer Mercedes-Benz loved to feature former world champion Mika Hakkinen having fun with tennis ace Boris Becker.

But television is only just one avenue through which sponsors get maximum value for money by being linked with a driver or teams. These days, you find Formula One cars and drivers pictured on food items in supermarkets, on advertisements in garage forecourts, and even in adverts and promotions for items that have nothing to do with racing. Michael Schumacher has famously been used by shampoo manufacturer L’Oreal – and he is definitely worth it. Some sponsors have taken completely different routes to gain exposure. Energy drinks giant Red Bull is not only planning to name a race track in Austria after it (so it will become known as the Red Bull Ring), but the company has also funded a driver search programme in the United States to help find America’s next Grand Prix driver.