Source – Planetf1.com
With a multi-year agreement, Mastercard becomes a significant McLaren Formula 1 sponsor.
Global payment card provider Mastercard has made a notable return to Formula 1 sponsorship, securing a deal with McLaren. After a period of speculation about its potential comeback to the F1 scene, Mastercard has opted to become a major sponsor of the iconic papaya team through a multi-year agreement. This partnership will see Mastercard branding prominently displayed on McLaren’s cars and equipment later in the season. Additionally, Mastercard plans to offer exclusive access to F1 and McLaren through its Priceless Experiences program for cardholders.
Raja Rajamannar, Mastercard’s Chief Marketing and Communications Officer, expressed enthusiasm for the new venture. He emphasized the company’s commitment to bringing value to its customers and cardholders by connecting them with their passions. Rajamannar highlighted the universal appeal of racing and the excitement it generates worldwide. He noted that McLaren, with its rich history and innovative spirit, perfectly aligns with Mastercard’s values. The partnership aims to create meaningful engagement for fans globally, enhancing their experience of the sport.
McLaren CEO Zak Brown shared his excitement about the new partnership, describing Mastercard as an iconic brand with a globally recognizable logo. Brown praised Mastercard’s dedication to providing fans with exceptional experiences and opportunities, which aligns seamlessly with McLaren’s mission to foster a growing global racing community. The collaboration marks another milestone in McLaren’s expanding sponsorship roster, bringing another prestigious name into the fold.
Mastercard’s history in Formula 1 dates back to 1997 when it sponsored the short-lived Mastercard Lola team, founded by Eric Broadley. The team made only one qualifying attempt at the Australian Grand Prix before folding. Subsequently, Mastercard shifted its sponsorship to the Jordan team from 1998 to 2001, featuring prominently on Eddie Jordan’s cars. In recent years, Mastercard’s direct competitors, Visa and American Express, have also ventured into F1 sponsorship. Visa became the title sponsor of the rebranded Visa Cash App RB team, while American Express formed a regional partnership with F1, including the Las Vegas Grand Prix.
The renewed partnership between Mastercard and McLaren signifies a strategic move to capitalize on the global appeal of Formula 1. As the sport continues to grow in popularity, the collaboration is expected to enhance fan engagement and create unique experiences for Mastercard’s cardholders. This alliance reflects a shared commitment to innovation, excitement, and the relentless pursuit of excellence that both Mastercard and McLaren embody.
