Formula 1 to lose major sponsorship

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According to reports, Formula 1 is set to end its partnership with Emirates Airline, after the end of the 2022 season. The airline company have had various benefits including the generation of revenue and marketing through title sponsor deals, advertising along tracks, Hot Laps, fan zones, and premium experiences for customers at the GP. However, the F1 is said to have asked for 50 million USD a year, which is a 100% increase from the current agreement, which Emirates have declined. However, it has emerged that the F1 may be looking to a new partnership with Qatar Airways, with the first race in Qatar held in 2021, and the next edition to be held in 2023, as the nation is currently busy with the upcoming World Cup.

Additionally, Qatar is known to have associations with F1 executive Stefano Domenicali (who was previously involved with Lamborghini), as the sovereign wealth fund holds 17% stake in the Volkswagen Group, which is the umbrella organization for Lamborghini. F1’s connection to Qatar is set to receive another boost, through the Volkswagen-owned Audi’s slated entry into F1 in 2026, once new engine rules are implemented. Audi are gearing up to partner with Sauber for the supply of engines. Another member of Volkswagen’s conglomerate, Porsche was also set to enter F1 through a partnership with Red Bull, but the deal has fallen through. Overall, it seems certain that Formula 1 is set to lean on Qatar in the upcoming seasons.