Ferrari’s HP deal “will help afford” Lewis Hamilton as Red Bull-Oracle comparison made
Ferrari's new title sponsor HP will be important in funding Lewis Hamilton's salary for 2025.
Ferrari’s new deal with HP to become their title partner is a welcome boost ahead of Lewis Hamilton’s arrival for the 2025 F1 season.
On Wednesday afternoon, technology giant HP were announced as the Ferrari F1 team’s title sponsor - becoming Scuderia Ferrari HP from the Miami Grand Prix onwards.
According to Sport Business, the deal with HP is “comparable” to Red Bull’s Oracle title sponsorship deal - which is reported to be around $90 million per year.
Red Bull’s Oracle partnership is the “most valuable” of its kind in F1, meaning Ferrari’s HP link-up moves them on closer financial footing.
While there are financial restrictions in play currently amid the F1 cost cap, teams still have to pay extortionate amounts for drivers, infrastructure and other parts of the business.
Ferrari have signed Hamilton alongside Charles Leclerc for 2025.
Based on Hamilton’s Mercedes salary, he’s on a reported $45 million per year, not taking into account bonuses.
Shortly after Hamilton’s move to Ferrari was announced, Formu1a.uno reported that the seven-time world champion’s earnings could rise over $100 million - taking into account his base salary, sponsors, image rights and bonuses.
Even for a team of the size of Ferrari, the additional income from HP will be welcome, particularly as they have gone without an official title sponsor for the past two years.
Ferrari’s decision to get a new title sponsor stems from them recruiting Lorenzo Giorgetti to lead their commercial team.
Giorgetti spent a number of years with Italian football club AC Milan, playing a significant role in their commercial relaunch.
In terms of HP, the move continues their push into the sports market, partnering recently with Spanish football giants Real Madrid as their first-ever sleeve sponsor
HP are no strangers to F1 though, having sponsored Williams in the early 2000s.
One of their subsidiaries, HPE (Hewlett Packard Enterprise) have been involved with Mercedes and Sauber as well.
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