American Express (Amex), the international credit card provider, has announced a multi-year partnership with motor racing’s Formula 1 (F1) covering several grands prix in the Americas.
The agreement, Amex’s first new sponsorship deal in more than a decade, will see the company become the F1’s first official payments partner in the Americas covering the championship's stops in Austin, Texas, Mexico City (Mexico), Sao Paulo (Brazil), Las Vegas, Miami, and Montreal (Canada).
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As part of the partnership, American Express will also sponsor F1 Academy, the new all-female development category, while American Express card members will be given special benefits including early access to race tickets, F1 experiences, and paddock club access in the Americas.
There will be additional benefits on-site for Amex card members at races in North, Central, and South America.
Jonny Haworth, F1’s director of commercial partnerships, said: “As we continue to grow our presence in the US, we believe American Express will introduce a new wave of fans to the sport through offering premium once-in-a-lifetime moments to their card members, and support F1 in our efforts to further enhance and elevate the fan experience in this crucial market.”
The deal comes ahead of the 2023 season's US Grand Prix at the Circuit of Americas in Austin, Texas this weekend (October 20 to 22) before heading to Mexico City (October 27 to 29). The series will then move to Sao Paulo before ending its Americas leg at the Las Vegas GP.
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By GlobalDataThe deal adds to Amex’s portfolio of sponsorship rights including the US Open and Wimbledon grand slam tennis tournaments, English Premier League soccer club Brighton & Hove Albion, French soccer giants Paris Saint-Germain, and NBA basketball’s Utah Jazz, among others.
Elizabeth Rutledge, chief marketing officer for American Express, said: “The F1 fan base and viewership has grown exponentially over the past several years, so we are thrilled to bring the exclusive access and unique experiences that American Express is known for to our card members and racing fans.
“The addition of F1 to our global portfolio of partnerships helps us continue to create meaningful value for our customers, in the areas they’re most passionate about.”
The deal comes amid the F1 staging three races in the US for the first time during the 2023 season. Along with events in Miami, Florida (May 7 to 9) and Austin, Texas, the inaugural Las Vegas on November 18 will serve as the penultimate race before the season-ending Abu Dhabi Prix a week later.
The series’ owners, US-based Liberty Media, have been open about growing the sport in the country since taking over commercial rights at the start of the 2017 season and will look to build on commercial deals in the run-up to the race.
ESPN holds the rights in the US to F1 until the end of the 2025 season after striking an extension in October. Under that deal, ESPN will provide live coverage of all F1 grands prix across its ESPN and ESPN2 channels, with at least 16 races per season aired on free-to-air sister channel ABC.
F1’s popularity in the US has been assisted, in part, by the huge interest in the Netflix documentary series Drive to Survive, which has helped drive fresh interest in the sport since the first season aired in 2019.
It is set to return for a fifth and sixth season this year and in 2024 covering the 2022 and 2023 seasons, respectively.
