How to Sponsor F1
Corporations have played a huge role in Formula One (F1) racing since the 1960s. Sponsorship is a method used by companies to advertise and brand their products through one of the premier auto racing series in the world. Sponsorship is vital for Formula One teams, as they provide a large portion of the team's income. While a company will receive a lot of international advertising exposure through sponsoring in F1, it is a huge investment. Companies can become a corporate sponsor for the F1 series or F1 teams and drivers.
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Instructions
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How to sponsor in the F1 series
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Consider the expenditure of sponsoring in the F1 series. The disbursement of sponsorship may vary depending on the nature of sponsorship you choose and who you sponsor. The expense in sponsoring in F1 usually adds up to several million dollars per season. In 2010, the F1 began the season with a total sponsorship amount of $705 million.
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Determine if your corporation plans to sponsor an F1 team or become a corporate partner with the F1 series. Either way, your company will receive plenty of worldwide exposure to F1 fans, but it depends on the needs and desires of the company. Negotiate with the series officials if you plan to become a corporate sponsor with the F1. If you plan to sponsor a particular team and driver, you must negotiate with team officials.
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Discuss the terms of the sponsorship arrangement with the F1 team, or the F1 series officials. Each contract specifies the length of the partnership, as well as the terms of the sponsorship, costs and rights and benefits. Once the terms of the contract are finalized, your company logos will appear on the car, or on banners and signs at each Formula One event.
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References
- Photo Credit racing car image by Goran Bogicevic from Fotolia.com
