$6.7 Billion Worth Brand Instills Trust in Ferrari Despite Its Terrible F1 Season Start in 2023

After letting go of its major sponsor, Velas, a crypto-associated company, Ferrari was tasked with finding a new partner to cover a combined $55 million worth of space on its 2023 challenger, the SF-23. It had then brought along new companies to fill its pockets and finance the run for the championship. And while all the attempts to challenge Max Verstappen & Co. have been foiled, the team, riding the wave of the Americanization of the sport, has bagged sponsorship from an Energy Drink company, which holds a market cap of $6.7 billion.

Yes, that’s the correct number and the brand in discussion is Celsius Energy Drink. The best part is, the partnership between the parties is limited solely to the three races that will be held in the United States of America. The Miami GP will be the first time that the logo of the energy drink brand will feature on the machinery underneath Charles Leclerc and Carlos Sainz. Then, it will also be put on display during the races in Austin and the highly anticipated Las Vegas. However, the terms and the value of the limited sponsorship still remain unknown.

In a press release, the CEO of the brand Celsius, John Fieldy, said, “Celsius shares Scuderia Ferrari’s superior commitment to innovation, excellence and performance. … Competing at the highest level of performance is in our DNA and having a partner who shares our mindset and passion for performance is a perfect match.”

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The association of a Formula 1 team with energy drinks isn’t news. Red Bull itself boasts a huge brand, whereas Monster has a long-term partnership with Red Bull’s rival Mercedes. But the most curious case of an energy drink brand and an F1 team was that of Rich Energy and Haas F1, the outcome of which is hidden from none.

Why poor seasons don’t hamper Ferrari’s finances?

Ferrari means Formula 1. Their iconic red livery and prancing horse logo have become synonymous with the sport, making them instantly recognizable and appealing to fans and sponsors alike. Being the oldest team in Formula 1, it has established a rich and storied history in the sport, with a passionate fanbase that spans generations. So, doesn’t matter how they performed so far in this season, they are still worth their money.

The addition of Celsius as their sponsor would only mean extra funds for the team, not that they must be in dire need of them for the team’s survival. Their current list of sponsors includes names that are known globally, such as Shell, Santander, RayBan, AWS, Richard Mille, Mission Winnow, CEVA Logistics, Harman Automotive, and HCL Software, among a plethora of others.

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The Maranello-based Formula 1 squad boasts the largest fanbase across the world and is widely regarded as one of the most marketable teams in the sport. Despite not winning a championship for more than a decade, the team manages to secure the highest revenue across the grid.