According to a report, Ferrari is set to sign a highly lucrative deal with a company that will become its new title sponsor.
According to SportBusiness, Ferrari will soon link up with Hewlett Packard (HP) in a massive deal that will match the contract that’s currently in place between Oracle and Red Bull.
Ferrari is expected to announce the deal in Miami and it is said to involve a contract worth $90 million to $100 million per year – however the deal does not consist only of a sum of money.
Like the deal between Oracle and Red Bull, a technological collaboration between Ferrari and HP may also form and the American technology company can provide Ferrari with a lot of support in developing the car.
Software has become immeasurably important in the modern F1 era, and in that area, technological companies like HP and Oracle can contribute considerably.
It appears that the company will not become Ferrari’s title sponsor until next season. RacingNews365 understands that the deal between the two parties is also not currently signed.
Due to the listed policy at Ferrari, once a signature is made, a deal should be announced within 48 hours, which has not happened at this time.
It was a similar situation in 2023 when Ferrari made an early announcement of its deal with Peroni. At the time, the beer brand was still a sponsor of Aston Martin and the deal with Ferrari did not go into effect until the current season.
In Miami, the team is likely to provide more clarity as the event seems to have become an important race weekend for F1 teams. In terms of sponsorship as well as the driver market, it is set to be a busy weekend.
Consequently, all the high-ups from teams and sponsors will be present in Miami which was not the case during the races in China and Japan.