Cadillac Formula 1 team is reportedly on the hunt for a title sponsor worth up to $70 million annually, according to a recent report. This comes on the heels of the outfit confirming a multi-year Jim Beam partnership as it readies itself for entry to the grid in 2026.
With F1 expanding to 11 teams from next year on the turn of the regulations, industry sources report that the team is looking for a number of sponsorship opportunities ranging from values of $500,000 to upwards of $70 million.
So far, two brands have been confirmed to be in partnership with the American team: Tommy Hilfiger as apparel and lifestyle partner, and now Jim Beam as its official spirits partner, with the latter news coming only recently.
But Sports Business Journal has now reported that the team is looking to secure a title partner, with it currently being the only team to not have one after McLaren confirmed their title partnership with Mastercard earlier this year.
This partnership would grant the brand the most valuable advertising locations on the car, as well as branding opportunities on the team apparel and opportunities within hospitality and marketing rights.
If a single naming partner isn’t available, Cadillac will instead search for two to three “primary” partners valued between $40 million – 50 million annually. Additional tiers include:
Premium partners: three to five slots at $20m–$30m each.
Official team partners: at least eight positions priced between $3m–$15m, with narrower rights and reduced hospitality
Technical suppliers: packages starting from $500,000 annually.
According to Chris Lencheski, co-founder of SKI Partners and chairman & CEO of Phoenicia Sport & Entertainment, there is substantial interest in what’s available.
“There is a significant amount of quality companies in quality sectors — with larger interest coming offshore than domestic currently — in sponsoring General Motors’ relationship to Formula 1,” he said via SBJ.
“Because they are arguably — depending on any given year -– the largest or second largest automotive manufacturer in the world. Any time that kind of company comes to a new form of any sport — let alone motorsport, which is a cornerstone, hallmark, signature obligation of global performance marketing in automotive — it’s going to spur a lot of interest.”
According to Lencheski, there is a brand in the energy/technology sector that is interested in the title sponsor spot, but for a reduced annual price, closer to that of $30 million – $40 million.
“The right partner will be someone that is a global partner to sport, culture and entertainment — those three levers, exactly, because F1 more than most is a cultural product as well. If they have the ability to leverage the GM infrastructure (by striking newfound B2B arrangements), it would be the deciding factor.”