Sportsmoney
F1 signs multi-year extension to ‘US$40m-a-year’ DHL deal
Formula One has agreed a multi-year expansion of its global partnership with logistics company DHL.
Contract:
- DHL will continue as the series’ global logistics partner
- The extension is described as a ‘longer-term commitment’, suggesting a longer contract than the four-year extension signed in 2021.
Context:
This latest extension builds on a 20-year relationship between Formula One and DHL, with the most recent deal worth around US$40 million per season, according to sponsorship analytics platform Luscid.
Recently, DHL has worked with Formula One on reducing emissions produced by logistics, with a biofuel trial during the European leg of last season resulting in an 83 per cent reduction.
Comment:
“As our longest-standing partner, DHL has become such a crucial part of the delivery of our events, so we’re delighted to continue that successful collaboration for many more years,” said Jonny Haworth, director of commercial partnerships for Formula One.
“Our partnership has seen the sport transform and grow, and DHL have been hugely supportive in our transition to become a more sustainable sport.
“This will continue to be key as we move towards 2030 and as sustainable logistics continue to develop, I look forward to seeing the positive innovations that come next.”
Coming next:
The 2024 Formula One season gets underway this week with the Bahrain Grand Prix from 29th February to 2nd March.
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