Mercedes set for major sponsorship deal with Microsoft – report
Mercedes is set to announce another major sponsorship deal.
Mercedes is reportedly set to announce a new sponsorship deal with computer giant Microsoft in what could earn them $60m a year.
The Silver Arrows are already one of the most heavily endorsed teams on the grid with more than 20 sponsors but a partnership with Microsoft would represent a landmark deal in the world of F1.
Mercedes set for Microsoft sponsorship deal
Sky News reports that the $3.4trn valued company Microsoft will be announced as Mercedes’ latest partner when the team unveils its livery on Thursday. Mercedes declined to comment when asked by PlanetF1.com.
According to the broadcaster, a sponsorship expert has estimated it would be worth in the region of $60m-a-year, making it the third most lucrative sponsor on the grid behind Mercedes’ $75 million a season deal with Petronas and Red Bull’s $100 million a year deal with Oracle.
The deal comes as part of the tech industry’s increasing involvement with the world of Formula 1 and follows the sale of a portion of Toto Wolff’s Mercedes shares to cybersecurity company CrowdStrike.
That sale is reported to have given the Mercedes team a value of over £4.6bn, making it one of the most valuable teams not just in F1 but the whole of sport.
On Wednesday, Mercedes announced another new partner, this time in the form of digital finance service Nu.
Upon the announcement, Toto Wolff said: “Innovation and disruption are at the heart of everything we do and our partnership with Nu reflects those joint values”
“We have a shared commitment to pushing boundaries and finding smarter, more efficient ways to perform. We look forward to working together to drive such excellence through the partnership.”
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Mercedes will launch the W17 on Thursday, looking to return to the top of the Constructors’ tree for the first time since 2021.
The team also recently announced the impending departure of Chief Design John Owens who has been with the team since its return to the F1 grid
Mercedes said he will serve a period of gardening leave as he steps away from the team later this year and in his place current Engineering Director Giacomo Tortora will take over with Deputy Technical Director Simone Resta overseeing the group.
The Silver Arrows also wished “John all the very best for the future and thank him for the considerable role he has played in the team’s success.”
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