Agreement was estimated at US$20 million per season and could be driven by growth in the sport
Formula 1 is partnering with Formula 1 until 2030. The announcement was made this Thursday (Dec 19, 2024). The collaboration, which began before the 2021 season, was initially expected to last until 2025. The partnership, valued at US$20 million per season, could be driven by the growth of the sport,
F1 commercial director Emily Prazer said: “We have had a great partnership with Crypto.com since 2021 and this extension will make them one of our long-term partners. Our sport has changed significantly in that time, so we are happy to have her with us through 2030 and look forward to seeing how she engages with fans through her race activations,” he stated.
Steven Kalifowitz, chief marketing officer at Crypto.com, reaffirmed the platform’s commitment to cryptocurrencies and F1. “Formula 1 was one of our first global sports partnerships and a key factor in elevating Crypto.com to the most recognized cryptocurrency brand in the world. We are as optimistic as ever about the future of cryptocurrencies. We can say with confidence that cryptocurrencies are here to stay, and we are excited to maintain the momentum with Formula 1,” disse Kalifowitz.
Other agreements with Crypto.com
Additionally, Crypto.com has entered into other partnerships in sports, including a deal with UEFA for the Champions League until 2027 and title sponsorship of the Showdowna mini golf tournament held in Las Vegas. The company also holds the naming rights of the Los Angeles Lakers arena in a US$700 million contract, valid until 2042.
