P1racenews AI automatic summary:
The five biggest team sponsors in Formula 1 in 2024
According to the Financial Times, the number of companies sponsoring F1 teams has doubled in the past decade, with around 300 companies and brands sponsoring the 10 F1 teams last year. Tobacco used to be a major sponsor until it was banned in 2006, followed by telecoms companies, and now software providers are prominent sponsors. The purchase of F1 by Liberty Media and the popularity of Netflix’s Drive To Survive series has boosted the sport’s popularity. Sponsoring an F1 team may be expensive, but it can be worthwhile for companies with deep pockets. Some notable sponsors include Oracle for Red Bull, Aramco for Aston Martin, Petronas for Mercedes, and Stake for F1’s newest team.
