Ferrari terminate Velas F1 sponsorship deal

News

Ferrari have terminated a Formula One sponsorship deal with Swiss blockchain technology company Velas, the team said on Thursday.

The Zug-based company became a partner of the Italian racing team last season, with branding prominent on the cars’ rear wings, as part of a multi-year deal.

Velas was also title sponsor of Ferrari in the F1 Esports Series.

“Unfortunately, the agreement with Velas has been terminated early by us,” Ferrari said on Thursday in response to a Reuters query.

“We do not comment on matters that are the subject of a dispute and/or litigation.”

Ferrari, championship runners-up last season and the oldest and most successful team in the sport, have also parted ways with technology partner Snapdragon.

A team spokeswoman said that was a one-year commitment with the Qualcomm-owned brand and both parties mutually agreed not to extend.

Articles You May Like

MAYHEM during opening lap at Brands Hatch! | Fanatec GT World Challenge Europe
Alfa Romeo appoints Alunni Bravi as team representative
Three of our favorite DPi passes this year #shorts
Race Highlights | Sepang 2022 | Race 2 | Fanatec GT World Challenge Asia Powered by AWS
Sights and Sounds: 2016 IMSA WeatherTech Northeast Grand Prix

Leave a Reply

Your email address will not be published. Required fields are marked *