The McLaren Formula 1 (F1) motor racing team will have a new title sponsor next season, in the form of international credit card giant Mastercard.

Through a deal unveiled yesterday (August 27), the outfit, which looks set to win the F1 constructors' title this season and to deliver the driver's championship winner, will be known as the McLaren Mastercard Formula 1 team.

The agreement, which builds on an existing commercial tie-up between the two parties, is worth $100 million per season, it has been reported.

The initial deal between McLaren and Mastercard, signed off in mid-2024, has been valued by GlobalData Sport as worth $45 million in total, and had at first been due to run through the ongoing 2025 F1 season, in which McLaren sits top of the constructors' table by a significant margin.

Zak Brown, chief executive at McLaren Racing, has said: "Mastercard is a fantastic partner who shares our passions and values, so to have them on board as naming partner will offer us the perfect launch pad to keep pushing on and off track."

In terms of recent McLaren commercial activity, late last month, a new, multi-year tie-up with IT software provider Freshworks was unveiled.

McLaren added Freshworks to a commercial portfolio that features over 50 partners. The team’s key sponsors - aside from Mastercard - include OKX, Google, Cisco, and DP World.

Raja Rajamannar, Mastercard's chief marketing and communications officer, added: "Our partnership has been grounded in putting fans in pole position since day one, and becoming the official naming partner of the McLaren Formula 1 team takes that commitment to the next level."

For Mastercard, that brand's most recent significant sports sponsorship tie-up was announced in late June - an agreement through which it became a sponsor of tennis’ Billie Jean King Cup (BJK Cup) women’s national team tournament.