Fernando Alonso Gave Up $10 Million Worth Of Personal Sponsorship To Promote Kimoa And Got Nothing Out Of It

Fernando Alonso is one of the greatest F1 drivers of all time. The Spaniard has been in the sport since 2001 and has driven for some of the most historic teams ever. His two best years, however, came when he was at Renault, where he won the 2005 and 2006 F1 World Championships.

His immense popularity also made him one of the most marketable athletes in the world. There are numerous huge companies that have partnered with and sponsored Alonso over the years. More often than not, these decisions have worked in favor of Alonso, but this one time, he made a huge blunder that cost him a lot of money.

In 2017, Alonso launched his own clothing company known as ‘Kimoa’. Launching one’s own brand is always a risk, but Alonso decided to go all in to promote the company and he made certain sacrifices for it. Since there were other brands who already sponsored him, Alonso had to let go of them. According to Business F1, the Oviedo-born driver had to give up a total of $10 million worth of personal sponsorships to promote Kimoa.

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What happened to Fernando Alonso’s Kimoa investment?

Alonso always wanted to own his own clothing brand, but it did not quite work out for the two-time World Champion. Kimoa suffered staggering losses which amounted to about $3 million. Thus, in 2021, he decided to sell the company to an American group called Revolution Brands.

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— kimoa (@Kimoa) August 1, 2022

Despite that, Alonso continues to act as a brand ambassador for Kimoa. In fact, they are doing much better financially, now that it is not being run by Alonso.

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Fernando Alonso wants Aston Martin to fight for World Championships

Alonso is currently 41 years old but is showing no signs of slowing down, despite taking a two year break from the sport. He signed with Alpine and after two seasons with the Enstone-based outfit, is moving to Silverstone to race for Aston Martin from 2023 onwards. He signed a multi-year contract with the British team, and is desperate to fight for the Title once again before he retires from F1.

“I still think that the third will be possible one day,” he said as quoted by GPfans. “Maybe not next year, but who knows in the future? “With this project of Aston Martin, there are other things that are appealing to me which is to try to build a team, not from scratch because they are already a very settled team.”