Mastercard signs multi-year agreement with McLaren
The world's leading payment processor makes its return to motorsport's premier category with McLaren. A multi-year agreement has been signed between the two parties, making Mastercard one of the Woking team's major sponsors.
The British team McLaren, which is currently experiencing a prosperous period, has just announced a multi-year partnership with Mastercard, the American payment systems company led by Michael Miebach. This collaboration promises to focus on innovation and offer unique experiences to fans.
Mastercard, known for its “Priceless Experiences” program, will give cardholders the opportunity to access exclusive access to some of the most exciting experiences in sports and entertainment. This partnership with McLaren will allow Mastercard to extend its benefits to the world of Formula 1, offering it increased international visibility, aligned with the objectives of Liberty Media since its total acquisition of the sport in 2017.
Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard, spoke enthusiastically about this collaboration: “We are constantly exploring new ways to bring value to our customers and cardholders. Bringing them closer to their passions, what they love the most, is at the heart of this, and racing has become one of the most exciting universal passions in the world.”
He added: « For many people, McLaren is synonymous with racing – exciting, innovative, purpose-driven. We are thrilled to partner with them and bring our brands together in a significant way in the eyes of fans around the world. »
On his side, McLaren CEO Zak Brown also commented on this announcement: “Mastercard is an incredible brand with its iconic red and yellow logo immediately recognizable worldwide. Mastercard shares our absolute passion for offering fans fantastic experiences and opportunities to truly feel like a part of our rapidly growing global racing community – and we are delighted to welcome them to the McLaren Racing family.”
A comeback in Formula 1 for Mastercard
This partnership also marks Mastercard’s return to Formula 1, an adventure it had been hoping for a long time. In the late 1990s, Mastercard had attempted to enter F1 with the short-lived team Lola founded by Eric Broadley. In 1997, Mastercard had decided to finance the team’s budget, but the Lola T97/30 single-seater suffered from numerous design problems. The two cars, driven by Italian Vincenzo Sospiri and Brazilian Ricardo Rosset, had failed to qualify for the opening race in Australia, leading Mastercard to immediately end its association with Lola, which withdrew from the championship shortly after.
Subsequently, Mastercard had transferred its sponsorship to the Jordan team from 1998 to 2001 before disappearing from the world of Formula 1. Today, with this new partnership with McLaren, Mastercard once again joins the premier category of motor racing.
With the arrival of Mastercard, the interest of payment companies in Formula 1 continues to grow as its two main competitors in the field, Visa and American Express, have already joined the sport. The former has become the main sponsor of the Racing Bull team, while the latter is currently the regional partner of F1 in the Americas, notably in Las Vegas.
Fans will have to wait a few more weeks before seeing the red and yellow logo of the credit card issuing company appear on the McLaren race cars. This partnership promises to bring a new dynamic to the British team and strengthen Mastercard’s presence in the world of Formula 1.
