Business: Williams secures new Latin-American sponsor after signing Franco Colapinto

Formula One’s Grove-based outfit Williams Racing has announced a new partnership with Latin American e-commerce and digital payments giant Mercado Libre.

With more than 100 million users across 18 Latin American countries, Mercado Libre was named one of Time magazine’s 100 most influential companies last year and makes its entry into Formula 1 by partnering with Williams.

Its iconic handshake logo will feature on the FW46 driven by Alex Albon and Franco Colapinto from next month’s Azerbaijan Grand Prix, with exciting activations incorporating Mercado Libre’s statement yellow branding planned for Latin American races later in the year.

Founded in Argentina and listed on the NASDAQ stock exchange, Mercado Libre becomes the second Argentine company that has moved quickly to partner with Williams since the announcement that countryman Franco Colapinto will drive for the team for the remainder of the year.

Williams has recently unveiled a new partnership with leading digital transformation company Globant, extending its heritage with Argentina which stretches back to the three years Carlos Reutemann drove for the team in the 1980s.

Mercado Libre and Globant are among a host of major companies to have partnered with Williams in 2024 as the team transforms in pursuit of success. Komatsu, Keeper Security and VAST Data have all joined the team, which has also renewed its partnership with Jumeirah.

Commenting on the announcement, Williams team boss James Vowles noted: “It is fantastic to welcome Mercado Libre into Formula 1 as a partner with Williams Racing. Mercado Libre is one of the most important and trusted brands in Latin America, and their decision to partner with us is a demonstration of F1’s position as a truly global sport and Williams as an iconic international sporting franchise.

“As the team which secured Argentina’s last F1 win with Carlos Reutemann, and is writing a new chapter for the country with Franco at the wheel, we are proud to extend our links with a country and region that is so passionate about the sport.”

Speaking of the partnership, CMO & EVP of Mercado Libre, Sean Summers added: “We are thrilled to announce our partnership with Williams and Franco Colapinto as it aligns perfectly with the growing popularity of the sport worldwide and is an amazing opportunity for Mercado Libre to connect with millions of users and fans across Latin America.

“We are excited to support the Argentine F1 driver on this exhilarating journey who, through hard work and exceptional talent, has reached the pinnacle of motorsports. Formula 1 embodies speed, technology, continuous improvement, and teamwork, core values that Mercado Libre shares in its mission to transform realities through e-commerce and financial services in Latin America.”