The European Sponsorship Association looked at the top sponsorship trends for 2024 and this week I have the details. I also look at the importance of properly developing your confidence as well as a great scholarship being offered in the UK’s Ginetta Junior Championship. It’s all on this week’s edition of The Business of Being a Race Driver on Motorsport Prospects.
The Business of Racing
From the Driver’s Point of View
No matter what your dream, it isn’t going to be achieved if you lack confidence. Enzo Mucci explains why and how you can develop it.
For the third consecutive year, ESG has been named as the year’s top sponsorship trend by members of the European Sponsorship Association (ESA).
The second most popular trend was Cause/CSR, underlining the enduring commitment of the sponsorship community to purpose-based campaigns and activations. ESG (Environmental/Social/Governance) and CSR (Corporate Social Responsibility) have been prominent trends since 2021.
The most notable new entry in third place in the 2024 list is AI (artificial intelligence), with sponsorship agencies mostly identifying the technology as a game changer for the year ahead.
From the Sponsor’s Point of View
Charge Sponsorship looks at the four steps to sponsorship management success. “When I worked for a sponsorship property, our sponsors inevitably called in early September with the panicked measurement question. “Our CEO wants to know how our sponsorship did this season, and I need as much data as you have to support us.” This request often sets off a mad scramble for data in the office.”
The Costs of Racing
The 2024 Ginetta Junior champion will receive a £50,000 scholarship towards a seat in the 2025 GB4 Championship, it has been confirmed. Ginetta Cars and GB4 promoter MotorSport Vision (MSV) will jointly contribute to the prize fund – one of the largest ever seen at this level of UK motorsport.
MSV Chief Executive Jonathan Palmer said: “Ginetta Juniors has a long history of being the junior championship where drivers serious about trying to make it to the highest level learn and put themselves on the talent map. Whether they end up in F1 or professional GT racing, the pedigree of the championship winners is outstanding. To reinforce that we are providing one of the biggest prize funds ever at this level, to make a substantial contribution to the budget they will need to start their single seater career path with GB4.
“GB4 is now well established as by far the best value series at its performance level, and itself has another £50,000 available to the championship winner on their path to GB3 or British F4, with an additional €30,000 prize fund towards an F1 Academy budget for the top female driver. It is not just important but so exciting to be establishing a career pathway for the most successful drivers, providing what they need more than anything else – money!”
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.
