The prestigious Formula 1 (F1) motor racing series has today (April 5) announced a five-year deal with Salesforce, a US customer relationship management provider.
The half-decade deal starts immediately and will see Salesforce work with F1 to expand the series' global fanbase.
Last month, when reports first emerged that talks were underway between the two parties, it was reported that Salesforce would pay around $30 million annually to F1’s owner Liberty Media over the five years.
The Salesforce Customer 360 solution will “provide greater insight into and understanding of the F1 global fanbase”, the series has said.
Salesforce’s brand logo will be displayed across trackside signage, digital content and hospitality suites at grands prix throughout the season.
The brand will also “bring unique experiences to fans”, F1 has said, including providing new broadcast graphics and setting up other fan-based activations.
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In addition to this, the pair will combine to “gain actionable insights from F1’s carbon footprint”, with both having said they will use Salesforce’s Net Zero Cloud technology to “track, analyze and report on carbon emissions and waste management data across their business ecosystem.”
Brandon Snow, managing director of commercial at F1, has said: “Fans are at the heart of everything we do and both we and Salesforce will be working together to continue to improve the experience for the fans and use the insight we have to tailor our approach even better.”
Colin Fleming, Salesforce’s executive vice-president of global brand marketing, added: “Working with F1 to transform their approach to fan engagement and sustainability will give existing fans even more to love, and open doors for new audiences as the sport continues its rapid growth.”
A deal valuation of $30 million annually would see Salesforce join F1’s global sponsorship tier, which includes DHL, Emirates, Aramco, Crypto.com, Heineken, Pirelli, and Rolex.
It was initially reported that the two sides were attempting to broker the deal in time for the opening race of the 2022 season, which took place in Bahrain on March 20.
It has instead been signed ahead of the 2022 campaign’s third grand prix, in Australia, which will take place on April 10.
Last month, F1 unveiled Chinese computer manufacturer Lenovo as an official partner.
Under a multi-year deal, Lenovo’s technology will be used across the F1 organization at its base and at races.