Formula 1 | Ferrari to lose title sponsor and € 125m per year


The decades-long partnership between Ferrari and tobacco giant Philip Morris International (PMI) looks set to take a turn from next season.

La Gazzetta dello Sport claims that the Scuderia, whose relationship with the Marlboro cigarette brand in particular dates back to 1973, is looking for a new title sponsor for 2022 and beyond.

The partnership has been in trouble for several years, the “Mission Winnow” brand launched by PMI being deemed too controversial to be used on many Grand Prix.

Ferrari and Philip Morris could continue to cooperate but not under a huge title sponsor deal that would have grossed some € 125 million a year.

« The deal we have will expire at the end of the year but we are in discussion with Philip Morris, » comments Ferrari team boss Mattia Binotto.

« The relationship is good and we will see how it goes in the next few months. It is very likely that they will stay with us, but maybe not as a title sponsor. »

Remember that this loss should be put into perspective for the Scuderia since F1 has entered the era of capped budgets and Ferrari has had to halve or almost its budget since this year.



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