Building long-lasting sponsor partnerships is just one of the topics covered in this week’s edition of The Business of Being a Race Driver. I also have advice on why your social media engagement is stalling, the importance of investing in marketing like you invest in the car as well as details on opportunities to race in Australia, France, South-East Asia, the United States and more.
The Business of Racing
In the video above, Eibach Springs’ Head of Marketing, Mark Krumme, recommends that drivers looking for sponsors “invest in marketing like you’d invest in the car.” Krumme was interviewed by Alex Striler at the 2024 Off-Road Sponsorship Summit on Tuesday, August 20, 2024.
Racer On Demand looks at 4 critical reasons why your social media engagement is stalling.
“This morning, as I scrolled through my Instagram feed, I noticed some common social media faux pas that could be hurting racers’ online engagement. It got me thinking about how many racers struggle to keep their social media engagement levels high. You’re not alone if you find it challenging to maintain a strong online presence and connect with your audience effectively. Social media is a powerful tool for growing your fanbase and attracting sponsors, but it requires a strategic approach. Based on what I observed, here are four critical reasons why your social media engagement might be stalling and some actionable tips to get back on track.”
Read the full article here.
PRI talks to three experts who weigh in on how to establish and cultivate relationships with potential sponsors instead of viewing them solely as money sources.
“The most important thing is to understand that sponsors have a need to sell and market their services,” said Ken Ungar, CEO of CHARGE, an Indianapolis, Indiana-based sponsorship-consultancy firm. “The racer has to understand that racing is a platform, where millions of race fans come to enjoy their sport. The racer is the one who connects the sponsor to the race fan. The sponsors want to make sure their potential customers are in that race fan audience. For this reason, the racer needs to understand the demographics and psychographics of the race fan.
Read the complete post here.
If you are thinking of approaching luxury brands for potential sponsorship, it is important to keep in mind what is happening with the market right now. Global luxury spending to land near €1.5 trillion in 2024, remaining relatively flat as consumers prioritize experiences over products amid uncertainty. With luxury consumers tightening their wallets and younger generations showing declining advocacy for luxury brands, the personal luxury goods market faces a potential -2% erosion in 2024.
Explore key insights from the 23rd edition of the Bain & Company Luxury Study, released in collaboration with Italian luxury goods body Fondazione Altagamma. You can access the report here.
Ken Ungar, founder of sponsorship consulting company Charge, looks at how to craft meaningful sponsorship relationships.
“Finding a great sponsorship opportunity is a lot like dating. Most of the time, you’re stuck on awkward coffee dates with partners who just don’t get you. They don’t share your interests, and their idea of fun is light-years from yours. But, if you’re lucky, magic happens. You find “The One” – that perfect match who speaks your language, shares your goals, and makes you feel like you’ve hit the jackpot. And, just like dating, when you find the right sponsorship fit, the sparks fly, and together you can create something amazing.”
Read his full post here.
The Costs of Racing
AF2 Motorsport has announced an exciting initiative to offer one lucky driver the chance to compete in the 2025 Prototype Winter Series for a fraction of the regular budget.
The team will be running a raffle to determine its driver line-up for the 2025 Prototype Winter Series, with an entry price of just €5000. Open to all FIA Bronze-rated drivers, the deadline for entries is December 5th, with the ticket price required to be paid by December 10th. A minimum of 23 entries will be required by December 10th to proceed with the raffle.
More details can be found at the Winter Series website here.
Mazda Motorsports once again demonstrated its commitment to developing the next generation of racing talent, awarding a total of $500,000 in scholarships at the 2024 MX-5 Cup Shootout and the 2024 Spec MX-5 Shootout. These two events, held at alongside each other at Homestead-Miami Speedway, showcased a deep pool of promising drivers aspiring to professional racing careers. With opportunities to secure coveted scholarships and join one of the most respected development programs in the industry, finalists faced intense competition, with judges evaluating not only speed and skill but also adaptability, data analysis, and coachability.
At the 2024 Mazda Spec MX-5 Shootout, Mazda Motorsports awarded three scholarships totaling $150,000 to Vinnie Meskelis, Joey Andrews, and Emy Kissick. Originally, two scholarships were planned, but after an incredibly close competition, a surprise decision was made to award a third scholarship at the last minute. For the first time in Spec MX-5 history, a female driver will join the Mazda Factory Club Racing team. Emy will race alongside Vinnie and Joey in Spec MX-5 presented by Toyo Tires during the upcoming 2025 SCCA Super Tour. This trio represents Mazda’s continued commitment to nurturing grassroots talent and providing aspiring racers with a clear path to the top levels of motorsports.
Second time was the charm for Noah Harmon (Orlando, FL) who took home the big $150,000 scholarship from Mazda in his return to the MX-5 Cup Shootout this week. Harmon will use the prize money to compete in the 2025 Whelen Mazda MX-5 Cup presented by Michelin. Helio Meza (Houston, TX) graduated from last year’s Spec MX-5 scholarship to win the runner-up prize of $100,000 toward his 2025 season. The Mazda Women in Motorsport Initiative Scholarship was won by Ashlyn Speed (Arlington, TX) who will have $100,000 to put toward her racing career in MX-5 Cup next year.
Formula Regional Americas Championship (FR Americas) has announced a new scholarship program for its 2025 season, awarding up to six drivers in the highly-contested championship with cash prizes to assist in the next step of their racing career. With incremental prizes given to each of the top-five drivers, as well as the top-finishing rookie, the 2025 Driver Champion is set to be awarded $100,000 cash.
The 2025 Driver Champion in Formula 4 United States Championship (F4 U.S.) will receive a scholarship to step up to the next level—FR Americas—in 2026. The winner will be provided the use of a JS F3 chassis from Ligier Automotive, an F3 engine developed, engineered and provided by Mountune, tires supplied by Hankook Motorsports, and race entry fees from PMH.
In the Ligier JS F4 Series (JS F4), the 2025 Driver Champion will win a scholarship to compete in F4 U.S. the following season, which includes the use of an F4 U.S. chassis and Ligier Storm engine from Ligier Automotive, tires supplied by Hankook Motorsports and race entry fees from PMH.
The scholarships, paired with additional contingency awards given to the Champion, Vice Champion and Third-Place Champion, present a significant prize package for drivers competing in both F4 U.S and JS F4. Both scholarship prizes cover the cost of the season, excluding testing, team costs and travel. With the additional value added by product and contingency prizes, the F4 U.S. awards carry a total value of $295,280, while JS F4’s prizes combine for a value of $197,680.
More details can be found here.
The Alpine A110 Cup has introduced a number of change that could benefit drivers climbing the motorsport development ladder. As In previous years, the competitors will battle on several levels. In addition to the overall classification, the Professional, Junior, Challengers and Gentlemen categories and the team championship will offer multiple dimensions as the drivers will compete for €36,000 in race prizes throughout the season.
These prizes will be added to those of the future winner of the Alpine ELF Cup Series. The successor to Pierre Sancinéna, Gaël Castelli, Jean-Baptiste Méla, Lucas Frayssinet, Lorens Lecertua and Charles Roussanne will be able to choose between a production Alpine A110 Pure or a prize fund worth €50,000 excluding VAT. The latter will either allow them to defend their A110 Cup title or take it to the next level with the A110 GT4 or Rally. Meanwhile, the best Gentlemen will win a bonus of €10,000 in spare parts vouchers for 2026.
Alongside the Alpine ELF Cup Series, the A-arrow brand will innovate with a format focused on Endurance racing. Designed for long-distance racing, the Alpine Endurance Cup will be held within the Ultimate Cup Series.
Run over the four Ultimate Endurance GT Cup events not conflicting with the Alpine ELF Cup Series calendar; this series will aim to strengthen the endurance experience while consolidating the Alpine route to major competitions. The Alpine A110 Cups will have a dedicated classification and points system over the three 4-hour rounds and the 6-hour finale, and their competitors will benefit from an end-of-season bonus of €10,000 in spare parts vouchers for the following year. This new format will make it possible to race an Alpine A110 Cup at a reduced cost by sharing the car between two or three drivers (in the case of the 6-hour race).
More details can be found here.
Topspeed, the renowned junior Formula organizer in Asia and the Middle East, has announced the return of a “summer” F4 South East Asia Championship to be held over five events with 15 races from May to September. Sepang Circuit will feature as will two events in Thailand. The logistics of racing in Malaysia and Thailand will keep the required budget relatively low and will assist drivers to take their first step in car racing.
The Tatuus T421 Gen 2 powered by FIAT Abarth Turbo engine as used in the majority of F4 Championships Worldwide will allow drivers to race in the same car they may race in Europe or the Middle East.
Dates are May 4th Sepang, June 8th Sepang, July Thailand, August Thailand and September 7th Sepang. Eurasia Motorsport will be entering cars to ensure our history continues for producing successful drivers, ranging from F1 to GT to LMP to Touring car professionals plus amateur drivers who have gone on to race successfully in GT and LMP including the Le Mans 24h with the team.
Eurasia’s Sepang testing campaign will continue in Sepang and interested drivers may contact them at mark@eurasiamotorsport.com
Full details of the championship will follow shortly.
Preparations have begun for the 2025 Australian Formula 4 Championship, with significant changes to be implemented in the new year.
With a significant number of Formula 4 cars in private ownership across the country, both Generation 2 Tatuus and Generation 1 Mygale Formula 4 cars will be now permitted to compete together in the championship for the first time.
To assist the pathway for drivers coming out of karting, drivers aged 14 years of age are also now eligible to participate in the Generation 1 Mygale chassis in a separate Formula 4 Junior class.
Multiple team structures are also available, which vary on the needs of a driver. Drivers can elect to purchase a car outright and run it privately, or select a team run and prepare the owner’s vehicle. A team can also provide a car for a driver to lease and race in an ‘arrive-and-drive’ format.
Full information on the championship an be found at the Motorsport Australia website here.
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a former lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.
