Ferrari Follow in Footsteps of Red Bull’s $500 Million Sponsorship Deal With HP Partnership

Scuderia Ferrari, arguably F1’s most iconic team is set to join hands with Hewlett-Packard, more commonly known as HP. The American computer hardware company’s partnership with the Italian stable is expected to be as valuable as reigning champion Red Bull‘s existing deal with Oracle.

As per Sports Business, HP will become Ferrari’s new title sponsor from 2025 onwards. It will help the Maranello-based outfit accommodate finances in what is expected to be a monumental season. Lewis Hamilton joins the team on a $100 million a year salary next season. Plus, with new regulation changes set to shake up the grid in 2026, Ferrari will get a very hefty cash injection.

Sources say the @HP x Ferrari deal’s annual value is comparable to Red Bull’s title sponsorship deal with Oracle.@SportBusiness with the exclusive. pic.twitter.com/eKzLIytJ9a

— Vincenzo Landino (@vincenzolandino) April 23, 2024

Vincenzo Landino revealed that Ferrari will earn around what Red Bull earns from Oracle, their title sponsor. “Ferrari deal’s annual value is comparable to Red Bull’s title sponsorship deal with Oracle,” he wrote on X.

The deal between Red Bull and Oracle is worth around $500 million. As a result, the team officially became known as ‘Oracle Red Bull Racing’. Per sources, the same will be the case with Ferrari. They could have HP next to their name from 2025 onwards.

Is HP Ferrari’s first title sponsor?

For the last two seasons, Ferrari didn’t have a title sponsor and were simply referred to as ‘Scuderia Ferrari’ on the screens. In 2019, however, they signed a controversial deal with Mission Winnow which is part of American tobacco company Philip Morris international. That deal, however, lasted only until the 2021 season.

Ferrari could have chosen to get a title sponsor back to compete with Red Bull off the track, as they have been trying to do on it for the last two seasons. In addition to commercial value, HP offers technological solutions to the teams they partner with.

Recently, HP and Spanish soccer giants Real Madrid announced a newly formed partnership. The American company became their ‘sleeve sponsor’ and revealed their planned involvement in the club’s operations (per their official website).

Ferrari could benefit from something similar. The team is desperate to get the better of Red Bull who has been dominating F1 since 2022.