{"id":84467,"date":"2024-03-18T00:00:00","date_gmt":"2024-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/breaking-down-aramcos-aston-martin-title-partnership\/"},"modified":"2024-03-18T00:00:00","modified_gmt":"2024-03-18T00:00:00","slug":"breaking-down-aramcos-aston-martin-title-partnership","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/18\/breaking-down-aramcos-aston-martin-title-partnership\/","title":{"rendered":"Breaking down Aramco\u2019s Aston Martin title partnership"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aramco and Aston Martin are set to bring the heat to Formula 1 in 2024 <\/strong>after <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-extends-successful-partnership-with-aston-martin-formula-one\" style=\"\" rel=\"noopener\">signing a five-year partnership<\/a> in December to make the state-owned oil giant sole title partner of the Aston Martin F1 team. The team hit the tracks for the first time this season earlier this month in Jeddah under its new name Aston Martin Aramco Formula One Team.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHY IT MATTERS:<\/strong><\/p>\n<ul>\n<li><strong>While financial details of the partnership weren\u2019t disclosed, F1 is all about the big <\/strong><strong>bucks:<\/strong> F1 teams are estimated to spend around USD 150 mn in a single season excluding driver salaries, <a target=\"_blank\" href=\"https:\/\/en.as.com\/racing\/how-much-does-a-formula-1-race-car-cost-n-4\/\" style=\"\" rel=\"noopener\">according to AS<\/a>. F1 teams raked USD 30 bn from sponsorships in the 15 years ending 2019, according to <a target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/csylt\/2019\/05\/19\/revealed-sponsors-fuel-formula-one-with-30-billion\/?sh=3af552272416\" style=\"\" rel=\"noopener\">Forbes<\/a>, and the sport has only grown in popularity since.<\/li>\n<li><strong>Besides the big spenders, the exposure is huge: <\/strong>Some 1.55 bn people tuned into F1 in 2021 as cumulative TV audience rose 4% y-o-y from a year earlier, according to <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/latest\/article.formula-1-announces-tv-race-attendance-and-digital-audience-figures-for-2021.1YDpVJIOHGNuok907sWcKW.html\" style=\"\" rel=\"noopener\">F1 data<\/a>. A F1 Netflix series titled <a target=\"_blank\" href=\"https:\/\/www.netflix.com\/eg-en\/title\/80204890\" style=\"\" rel=\"noopener\">\u201cDrive to<\/a><a target=\"_blank\" href=\"https:\/\/www.netflix.com\/eg-en\/title\/80204890\" style=\"\" rel=\"noopener\">Survive\u201d<\/a> is also seen as a gateway to the sport, with a <a target=\"_blank\" href=\"https:\/\/pro.morningconsult.com\/instant-intel\/f1-fandom-netflix\" style=\"\" rel=\"noopener\">survey in 2022<\/a> suggesting that more than half of F1 fans in the US say the show was the reason behind their fresh fandom of the motorsports. The hit series also catalyzed a 2.3% growth worldwide in F1 live event viewership, according to a <a target=\"_blank\" href=\"https:\/\/www.nielsen.com\/insights\/2022\/driven-to-watch-how-a-sports-docuseries-drove-u-s-fans-to-formula-1\/\" style=\"\" rel=\"noopener\">Nielsen study<\/a> in 2022.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aston Martin had a blockbuster 2023 season<\/strong>, finishing fifth in the constructor standings with Fernando Alonso bringing home the most podiums among non-Red Bull drivers and finishing fourth in the drivers\u2019 championship to cap off the team\u2019s best ever season. Aramco first <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/what-we-do\/energy-innovation\/innovation-ecosystem\/aramco-and-aston-martin-strategic-partnership\" style=\"\" rel=\"noopener\">partnered up with Aston Martin<\/a> for the 2022 season alongside IT company Cognizant and saw results after just one season. The partnership helped transform the team from a bottom five contender rarely in the points to a top five team that is fighting for podiums every weekend.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A brief history lesson on the Aston Martin Aramco F1 team: <\/strong>The Sahara Force India<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Formula One Team went <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/latest\/article.force-india-enter-administration.6a8cLpPApqIyOUsYMmUWEI.html\" style=\"\" rel=\"noopener\">into administration<\/a> in 2018. This brought in Canadian b\u2019naire Lawrence Stroll, who offered it a way out of bankruptcy by buying the team and rebranding it to Racing Point F1 team in a bid to keep the pink livery alive for the season. In 2021, the team was rebranded again to Aston Martin after Stroll became the majority shareholder in the British luxury car maker.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco is also F1\u2019s global energy partner <\/strong>undera <a target=\"_blank\" href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2020\/aramco-announces-partnership-with-formula-1\" style=\"\" rel=\"noopener\">sponsorship agreement<\/a> struck in 2020 to mark the oil giant\u2019s first global sponsorship of a major sporting event. The sponsorship came on the cusp of F1\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/1436.pdf\" style=\"\" rel=\"noopener\">Sustainability Strategy (pdf)<\/a> which was launched in 2019.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A look at F1\u2019s sustainable fuels sandbox: <\/strong>F1 plans to deliver 100% sustainable fuels to its constructors\u2019 cars by 2026 as part of its plan to be Net Zero Carbon by 2030. It is set to rely heavily on Aramco with whom they \u201ctested 39 surrogate blends of fuels,\u201d according to F1 CTO Pat Symonds who is quarterbacking <a target=\"_blank\" href=\"https:\/\/www.formula1.com\/en\/latest\/article.formula-1-on-course-to-deliver-100-sustainable-fuels-for-2026.1szcnS0ehW3I0HJeelwPam.html\" style=\"\" rel=\"noopener\">this project<\/a>. Aramco will be making the fuels at two of its plants, one here in Saudi and one in Spain. It will be up to constructors to figure out how they can use this fuel in the most efficient (and fast)way and design their cars accordingly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s much bigger than just racing cars: <\/strong>F1 is not just a weekly or bi-weekly event that involves cars going around the track at blinding speeds \u2014 it also doubles up as a research lab for industrial car manufacturing, with technology transfer between the two abundant but is \u201csubtler than bolting bits from one car onto another,\u201d according to <a target=\"_blank\" href=\"https:\/\/www.eurosport.com\/formula-1\/how-formula-one-technology-improves-your-road-car_sto4975756\/story.shtml\" style=\"\" rel=\"noopener\">Paddy Lowe to Eurosport<\/a>, former executive director at multi-championship winning Mercedes\u2019 F1 team. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Public Investment Fund (PIF) upped its stake in British luxury car maker Aston Martin to 20.5% <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/saudi-wealth-fund-raises-stake-carmaker-aston-martin-2023-11-08\/\" style=\"\" rel=\"noopener\">in November<\/a>. It also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/4fd81d59-21ba-4d7b-bb15-bd2e0a6d8d43\/aramco%25e2%2580%2599s-net-income-is-down,-dividend-is-up-%25e2%2580%2594-and-its-business-outlook-is-still-ambitious\" style=\"\" rel=\"noopener\">doubled up its stake<\/a> in Aramco to 16% earlier in March, a transfer of stock worth about USD 164.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Diving into the Aston Martin Aramco F1 team success story<\/p>\n","protected":false},"author":1,"featured_media":84468,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2641],"tags":[139,1544,2425,39,10,1545,26],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enterprise-explains","tag-aramco","tag-aston-martin","tag-energy","tag-enterprise-explains","tag-enterpriseam-ksa","tag-formula-1-f1","tag-fuel","wpautop","entry"],"acf":{"mongo_id":"8a687958-fea2-4996-b933-a58ef7c1e0a0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1464.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Breaking down Aramco\u2019s Aston Martin title partnership","related_issue":[84460],"teaser":"Diving into the Aston Martin Aramco F1 team success story","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.fe0f5616-6119-4530-a664-50b0d1c89e71.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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