Ferrari, an Italian sports car manufacturer, has recently announced a multi-year title partnership with US technology titan HP. With this, the Italian Formula One Team will now be renamed ‘Scuderia Ferrari HP’.
As per the agreement, the HP logo will make its debut on the team’s Formula One cars ahead of the upcoming Miami Grand Prix held between 3rd and 5th May. A new livery will also be unveiled specifically for the Miami race.
Financial Details Of The Partnership
It is reported that the HP deal is similar in size to Red Bull’s title partnership with Oracle, which is thought to be worth around US$300 million over five years.
HP becomes Ferrari’s inaugural naming rights partner following the conclusion of its partnership with Mission Winnow, a subsidiary of Phillip Morris International, in 2021.
As part of the partnership, HP’s high-performance products and services such as adaptive PCs and devices, conferencing technology, and printing capabilities will be integrated to enhance Scuderia Ferrari HP and the other racing teams of the Prancing Horse. This integration aims to boost training precision and optimize strategic decision-making both on and off the track.
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From The CEOs
“In HP we have found the same values, which make it an ideal partner. We look forward to starting our collaboration and facing new opportunities and challenges together.” – Benedetto Vigna, CEO of Ferrari
HP and Ferrari are dedicated to accelerating sustainable innovation in both technology and sport. They will also collaborate on expanding educational initiatives within their teams and communities, aiming to create a lasting impact for future generations.
“With technology, performance and exceptional craftsmanship fuelling the future, the partnership between HP and Ferrari is a natural fit.” – Enrique Lores, CEO of HP Inc.
Key Takeaways Of The Partnership
- Renowned companies are partnering to emphasize their shared brand values and dedication to performance, innovation, excellence, and trust.
- Ferrari will implement HP’s advanced technology and services, including adaptive PCs and devices, collaboration tools, and printing solutions, to enhance performance both on and off the track.
- This historic title partnership introduces a new team name and brand identity, ‘Scuderia Ferrari HP’, for its F1 racing team, Scuderia Ferrari Esports team, Ferrari Esports series, and the Scuderia Ferrari car in the F1 Academy series.
