Big brands like Ferrari, Mercedes, and Red Bull spend a lot on their Formula 1 projects each year. Thanks to F1’s recent profitability and budget caps, teams can now make a profit. Many sponsors pay large sums to have their logos on the cars.

F1 itself is benefiting from its growing popularity. Formula One Management recently signed long-term deals with sponsors like Aramco, Crypto.com, and LIQUI MOLY.

F1 Team Sponsors

Financially, F1 is doing well, and this is clear from the sponsors on the cars. Here are the biggest external sponsors of F1 teams in 2024, along with the estimated amounts they contribute each year. Notably, Red Bull Racing is a leader both on and off the track.

Note: All figures are estimates based on various sources within the F1 paddock and teams.

Top 5 Biggest Sponsors of F1 Teams in 2024

Sponsor Details

Oracle

Oracle, a software company, has a long history in Formula 1. Currently, it sponsors Red Bull Racing, but it was also a sponsor in the 1990s with the Benetton team. Oracle’s software supports Red Bull Racing’s tactical team with pit stop strategies.

Aramco

The Saudi oil company Aramco sponsors Aston Martin and Formula 1 as a whole. You can see their logo on various circuits and on the cars of Lance Stroll and Fernando Alonso. As of 2024, Aramco is the only sponsor name in the Aston Martin team name, making their sponsorship even bigger. There are rumors that Aramco might buy shares in Lawrence Stroll’s team, and they are working on developing the “greenest fuel” in the world.

Petronas

The Malaysian fuel supplier Petronas has a strong partnership with Mercedes. They provide fuel for Mercedes and its customer teams. Petronas also gives Mercedes around $70 million a year, covering half of Mercedes’ budget cap.

Stake

The Australia-based company Stake is now the main and title sponsor for Sauber, now known as Stake F1 Team. They will contribute around $50 million per year for two seasons. Stake plans to launch a big activation campaign in Formula One, showing other teams that F1 is still growing.

Bybit

Bybit, a cryptocurrency platform, has been sponsoring Red Bull Racing since 2022 and will continue until the end of 2024. Bybit and Red Bull Racing developed a digital collection for fans called the Velocity Series.

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