McLaren’s sporting success attracts a prominent sponsor – whose own Formula 1 project in the late 1990s was a colossal failure
The five euros that a fan gave Oscar Piastri as a lucky charm before the Hungarian Grand Prix have already been widely reported in the media – but it is not known whether the Australian has already spent them again. In future, however, he and team-mate Lando Norris will probably be paying by card anyway: Mastercard is joining the Papaya team as a major sponsor!
Mastercard in Formula 1 … Wasn’t there something? Die-hard fans will remember: in 1997, a joint project between chassis manufacturer Lola and Mastercard as the main sponsor failed on a grand scale. The project registered a team for participation in the World Championship at very short notice, but with a de facto preparation time of only three months, it ended in a fiasco.
With the hastily cobbled-together T97/30, the two pitiful drivers Ricardo Rosset and Vincenzo Sospiri fell miles short of the qualifying hurdle for the opening race at the Australian Grand Prix after disastrous training performances.
After the disgrace in Melbourne, Mastercard withdrew for fear of even greater damage to its image, which meant that the project was insolvent before the first race had even started. Between 1998 and 2001, the company still acted as a sponsor for the Jordan team.
By joining the team of the moment as a financial backer, a horror scenario like the one 27 years ago is of course out of the question: “Mastercard is an incredible brand, with the iconic red and yellow logo that is instantly recognizable all over the world,” says McLaren CEO Zak Brown, delighted with the support, which is financially strong in the truest sense of the word.
The company’s branding will also appear on the design of the current MCL38 later in the season – in addition, the financial giant wants to bring its customers closer to special offers relating to the McLaren team, in line with the in-house advertising slogan: Close to Formula 1 – priceless!
“We are always exploring new ways to generate added value for our cardholders,” explains Raja Rajamannar, Mastercard’s Head of Marketing and Communications, with regard to the “multi-year” deal with McLaren: “Bringing them closer to their passion and what they love most is a key element of this – and racing is arguably one of the biggest and most exciting passions globally. “
