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New Delhi: Mercedes Formula One team is reportedly close to announcing a new sponsorship deal with computer giant Microsoft, which could be worth $60 m a year. The Silver Arrows are one of the most heavily sponsored teams in the paddock, with about 20 sponsors, but Microsoft tapping into this would be a landmark deal in the world of F1.
According to reports from Sky News, Microsoft, which is valued at $3.4 trn, will announce their new partnership when the team unveils their livery for the season. Further, the broadcaster said a sponsorship expert has estimated it would be falling somewhere in the ballpark of the $60 m a year, making it the third most lucrative sponsor, behind Mercedes’ $75 million a season deal with Petronas and Red Bull’s $100 m a year deal with Oracle.
The deal comes as part of the tech giant’s increasing involvement with the F1 world and comes after the sale of a portion of team principal Toto Wolff’s Mercedes shares to cybersecurity company CrowdStrike. The sale is said to have given the Mercedes team a value of above £ 4.6 bn, making it one of the most valuable teams not just in the grid but in the sports world.
Yesterday, Mercedes also announced another partner, in the form of digital finance service Nu. Upon the announcement, Wolff, co-owner and CEO of Mercedes, said that innovation and disruption were part of everything the team did, and the partnership signified that more.
Mercedes are close to launching W17 today and are going to hope for a return to the top of the Constructors' championship battle, having missed it since 2021. The team also announced the imminent departure of their Chief Designer, John Owens, who had been with the team since its return to the F1 grid.
The team said that Owen will serve a period of gardening leave as he steps away from the team later this year, and in his place, present Engineering Director Giacomo Tortora will take over, with Deputy Technical Director Simone Resta monitoring the group. Mercedes ended their last season second on the Constructors’ championship but were miles behind the McLaren team, who had a dream run.
