HP and Scuderia Ferrari have joined forces to evolve the Formula 1 team into Scuderia Ferrari HP.
As the name sponsor, HP will provide PCs, conferencing technology and printing capabilities.
The HP logo will feature prominently on both uniforms and the vehicle starting in the Miami Grand Prix happening in two weeks.
As much as Formula 1 is about the drivers and cars on track, none of modern Formula 1 would be possible without a litany of back-office activities.
Among those activities is a reliance on data and computing and as such we’re seeing more big tech firms banding together with Formula 1 teams. We’ve seen Oracle become a name sponsor of what is now Oracle Red Bull Racing and now HP will be teaming up with Ferrari.
On Wednesday, the historic team announced that it would be sharing its name with HP to become Scuderia Ferrari HP team.
The tech firm’s logo will debut on Ferrari’s SF-24 at the Miami Grand Prix happening between 3rd and 5th May. The Scuderia Ferrari Esports team and the Scuderia Ferrari car driven by Maya Weug in F1 Academy Series will also adopt the new name.
It all starts in the garage, where we dare to dream and achieve. Today, @HP and @ScuderiaFerrari announce their historic title partnership. We are thrilled to embark on a journey to empower people through technology and innovation and create meaningful connections worldwide … pic.twitter.com/X2b0GfiNrk— Scuderia Ferrari HP (@ScuderiaFerrari) April 24, 2024As part of the partnership, HP’s technology including PCs, conference technology and “printing capabilities” will be integrated into the brand’s activities. We know that “printing capabilities” is a broad term but we like to think that printing out reams of paper each weekend prompted Ferrari to pursue HP in hopes of saving money on printer ink.
Joking aside, there appears to be a substantial amount of money behind this partnership. According to Planet F1 quoting journalist Will Buxton, the deal is worth roughly two-thirds of the annual Formula 1 cost cap for Ferrari or around $90 million.
“With technology, performance and exceptional craftsmanship fuelling the future, the partnership between HP and Ferrari is a natural fit,” says Enrique Lores, chief executive officer of HP Inc. “Both brands are built on rich histories that have endured the test of time. Through this unique collaboration, we also have an opportunity to reach new audiences, drive business growth, and create lasting impact for our shared clients and communities. Together we will leverage the global stage of racing to accelerate sustainable innovation.”
As part of the announcement, Ferrari revealed the race overalls the team would be wearing on the back of this partnership and reactions haven’t been kind at all. Many have decried that the Ferrari Red and HP blue don’t mix well. There are rumours that Ferrari may run a blue livery at the Miami Grand Prix in May but these are unconfirmed at this time.
The Scuderia Ferrari HP team is experiencing something of a resurgence Formula 1 after several years of poor performance from one of, if not the most iconic name in the sport.
In somewhat related news, MasterCard is reportedly looking to join a team as a name sponsor with rumours suggesting that the team may be McLaren. As one of the top performing teams this tracks but we’ll have to wait for May to find out if the payment platform joins Formula 1 as a name sponsor.
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