The Motorsport Sponsorship Summit is returning in 2025 and this week in The Business of Being a Race Driver you will get all the details. I also have great advice on those dreaming of becoming a professional race driver, how to build strong relationships with your sponsors and what the FIA want to do to deal with the rising costs of racing. All this and much more!
The Business of Racing
From the Driver’s Point of View
In the video above, Enzo Mucci asks, are you doing what needs to be done? “This video is for the drivers who are dreaming of F1 or becoming a professional race car driver. Delusion is a fine line.”
Maintaining a positive and productive relationship with your sponsors is crucial for long-term success. Building and sustaining these relationships requires consistent effort and effective strategies. MotiV8 Training explains how you can keep your sponsor relationships strong and beneficial, along with how The Winning Sponsors Course can guide you in mastering these skills. Read their tips here.
Charge Sponsorship Tip of the Week: Underpromise and Overdeliver
Mark your calendars, the 4th Annual Motorsports Sponsorship Summit will be on January 11 & 12, 2025. Use promo code EBS for Early Bird Special of 50% off until Veteran’s Day (November 11, 2024). Full details are available at here.
In the video above, Cam Douglass, Director of Marketing of OPTIMA Batteries, says that OPTIMA is always looking for new teams to sponsor and explains how to get sponsored by the brand. Douglass was interviewed by Alex Striler at the 2024 Motorsports Sponsorship Summit on January 13, 2024.
From the Sponsor’s Point of View
Sports marketing agency Sport Dimensions explains how sponsors should be focused on real experiences. When they do so, the content will follow.
“We did keep some of the best parts virtual programs offer as we moved forward, but we have found that the best activations ultimately come from real experiences for your partners, customers, and employees.”
You can read more here.
Keith Ungar of Charge Sponsorship looks at how to properly measure your sponsorship.
“Sponsorships are more than just financial commitments. They’re strategic investments requiring careful evaluation to ensure they deliver the desired results. Without proper measurement, brands risk making decisions based on hunches rather than hard facts, potentially leading to wasted resources and missed opportunities.”
Read more here.
The Costs of Racing
In an interview with Formula Scout, FIA single-seater president Emanuele Pirro explains how runaway costs and poor driving standards are his main priorities in his new role.
“Nowadays, we are, I would say, lucky, in brackets, that there are a large number of very wealthy people around the world that can afford motorsport. But the sport has a responsibility not to follow this demand too much, because if things change then you end up with a very expensive motor sport,” he says.
Box This Lap has put forward the suggestion that sim racing now offers the most accessible path to motorsport, replacing karting as an affordable entry.
“Today, however, karting has become a very expensive activity, especially at competitive levels. Costs can range from thousands to hundreds of thousands of euros for high-level championships and equipment, making karting no longer as accessible for young aspiring drivers. This limits the opportunities for many young talents who, without substantial financial resources, see their chances reduced from the start of their careers.”
You can read the full article here and make sure to check out the many comments in response to this article when I posted it in last week’s Sim Racing Roundup on my LinkedIn page 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.
