Mastercard has confirmed a multi-year sponsorship deal with McLaren Racing’s Formula 1 Team.
The partnership will see Mastercard offering cardholders access to certain Formula 1 themed events and branding for the payments technology business will begin to appear in races later in the 2024 season.
Raja Rajamannar, chief marketing and communications officer at Mastercard said the current marketing strategy is built around getting its customers “closer to their passions” and “what they love most.”
“Racing has become one of the most exhilarating, universal passions globally,” he said. “For many people, McLaren is synonymous with racing – exciting, innovative, purpose-driven.
“We are constantly exploring new ways to bring value to our customers and cardholders.”
McLaren said Mastercard’s recognition of how deeply fans connect with Formula 1 will ensure the company is an excellent partner for the team.
The company’s chief executive officer, Zak Brown, said: “Mastercard shares our absolute passion for offering fans fantastic experiences and opportunities to truly feel part of our growing global racing community
“Mastercard is an incredible brand with the iconic red and yellow logo instantly recognisable wherever you are in the world.”
In 2024, McLaren Racing has also announced commercial partnerships with Workday, Google and Salesforce. The team was previously sponsored by Goldman Sachs.