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In The Pit Lane: F1 bucking sponsorship trends?
In the COVID-19 world sports sponsorship has taken a pounding with a 23% contraction in the European sponsorship market. New research from the European Sponsorship Association and Nielsen Sport found the total value of Europe’s sponsorship market shrunk from a record 30.69 billion in 2019 to 23.63 billion in 2020 – its lowest point since 2010. Analysis of the figures indicates the sports sector fared better with a fall of 9%. Formula 1 has been bucking the trend with some major deals recently struck and is emerging in good shape all things considered. Sponsorship is old hat with the new buzz words such as commercial partners taking centre stage. Williams is particularly proactive in...
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