Ferrari’s F1 Team Rebrands as Scuderia Ferrari HP
Ferrari officially announced on Wednesday that its F1 team will henceforth be known as Scuderia Ferrari HP. This rebranding marks the American tech company as the new title sponsor of the Maranello-based team. This is only the third title sponsor in Ferrari’s long history.
Collaboration with HP
Ferrari stated in an official press release that the collaboration with HP primarily provides solutions in the field of data processing and technological innovation. “The integration of HP’s high-quality products and services will enable us to boost our performance,” the team said. This deal is reminiscent of Red Bull’s partnership with software company Oracle. Such companies can effectively apply their technological expertise in the sport – after all, modern Formula 1 runs on data.
Cost of the Deal
The exact cost of the deal with HP is, of course, strictly confidential, but it is rumored that the Americans are paying around 90 to 100 million dollars per year for the agreement. This means that the company will prominently feature on the car and team clothing, starting from the Miami Grand Prix.
Ferrari’s History with Title Sponsors
HP is only the third title sponsor in Ferrari’s long history. Since the very first Grand Prix in 1950, the team has lent its name to Marlboro (1997 to 2011) and Mission Winnow (2019 to 2021). Both are part of tobacco giant Philip Morris International.
