Ferrari poised to announce $27.2 billion worth tech giant as its title sponsor: Reports

Recent reports claim that Ferrari could soon announce Hewlett-Packard (HP) as their official title sponsor.

The Italian team has been running without a title sponsor for over two years now. From 2018 to 2021, the Prancing Horse had Mission Winnow as their title sponsor. However, fans criticized Mission Winnow's sponsorship due to its connection to the tobacco company Philip Morris International, resulting in the termination of the sponsorship. Ferrari remained sponsorless for a few years.

According to reports from SportBusiness, the Maranello-based team could strike a hefty deal with tech company HP (worth $27,200,000,000), which would be as valuable as the Red Bull-Oracle partnership. The report also claims that the reason behind the sponsorship could be for Ferrari to handle all the expenses after Lewis Hamilton joins the team in 2025 since driver salaries and bonuses are not included in the cost cap.

This would not be the first time HP has partnered with an F1 team. From 2000 to 2005, the computer company was with British team Williams Racing. It also had an agreement with Sauber for over a decade.

Though the reporter has contacted the Italian giants for comment, there has been no official announcement from the team or the computer company about the title sponsorship.

---

Ferrari CEO on the team's performance at the start of the 2024 F1 season

Ferrari CEO Benedetto Vigna talked about the team's performance at the start of the 2024 F1 season and said there is still a lot of work to be done.

Speaking to La Repubblica, Vigna said though his team had a better start to a season than 2023, they still had to push for more. He dove deep into the philosophy of competition and how things can quickly change for the better or worse.

"We started better than last year, but there is still work to be done and there always will be. The team only had one podium this time last year, as well as just one race win all season. The world of competition is like a person's life accelerated to the maximum - things can change quickly, going between good and bad. Stasis does not exist, everything flows quickly,” the Ferrari CEO said.

After the 2024 F1 Chinese GP, the Italian team is second in the constructors' championship with 151 points. Charles Leclerc is third in the drivers' championship with 76 points while Carlos Sainz is fourth with 69 points.