Business: McLaren announced tie-up with Mastercard

McLaren Racing and Mastercard have joined forces in a multi-year deal that will see the global payments leader become a major sponsor of the McLaren Formula 1 Team.

McLaren's statement noted that "the deal marks the coming together of two pre-eminent brands known for their focus on innovation and for setting the standard in offering incredible experiences that bring people closer to their passions as well as each other. "

Mastercard promises that the new deal will allow cardholders to have "unparalleled access to some of the most exciting properties in sports and entertainment, and this deal will allow Mastercard to extend that into the world of Formula 1 and the McLaren Racing team."

Mastercard branding will appear on the Woking-based outfit's cars, raced by Lando Norris and Oscar Piastri, later in the 2024 season.

Commenting on the deal, Raja Rajamannar, Chief Marketing and Communications Officer, Mastercard, said: “We are constantly exploring new ways to bring value to our customers and cardholders. Getting them closer to their passions, what they love most, is central to this, and racing has become one of the most exhilarating, universal passions globally.”

“For many people, McLaren is synonymous with racing – exciting, innovative, purpose-driven. We are thrilled to partner with them and to join our brands together in a meaningful way in the eyes of fans everywhere.”

McLaren CEO Zak Brown noted:“Mastercard is an incredible brand with the iconic red and yellow logo instantly recognisable wherever you are in the world.

"Mastercard shares our absolute passion for offering fans fantastic experiences and opportunities to truly feel part of our growing global racing community – and we are delighted to welcome them to the McLaren Racing family.”