close global

Welcome to GPFans

CHOOSE YOUR COUNTRY

  • NL
  • GB
  • IT
  • ES-MX
  • US
  • GB

Are you a F1 Fan? Follow GP Fans

Edition

NL GB IT ES-MX US
Charles Leclerc and Carlos Sainz on Circuit of the Americas

Ferrari terminate crypto sponsorship deal

Charles Leclerc and Carlos Sainz on Circuit of the Americas — Photo: © LAT Images
1 reactie

Ferrari terminate crypto sponsorship deal

Velas branding was displayed prominently on last year's Ferrari

Ferrari has become the latest F1 team to sever ties with a crypto partner after confirming it has terminated its deal with Velas.

Mercedes, AlphaTauri and Red Bull have all recently stepped away from sponsors in the volatile crypto market, with Ferrari now the latest to follow suit.

In Mercedes' case, this came after FTX filed for bankruptcy.

A Ferrari spokesperson confirmed: "Unfortunately, the agreement with Velas has been terminated early by us.

“We do not comment on matters that are the subject of a dispute and/or litigation.”

Ferrari partnered with Velas at the end of 2021, with the Swiss company named as the title partner for the Scuderia's entry in the F1 Esport Series.

Ferrari has also parted ways with technology partner Snapdragon ahead of the new season. This was a one-year commitment, with both parties mutually agreeing not to extend the deal.

The Scuderia has, however, announced a new partner in digital technology company Genesys, with logos for the brand to feature on both the manufacturer's F1 cars and on the new Le Mans 24-Hour hypercar.

Related

More F1 news

Latest F1 news

F1 in April - Six crucial dates for your diary

F1 in April - Six crucial dates for your diary

  • 2 hours ago
Lewis Hamilton contract clause blocks Ferrari team orders - F1 insider

Lewis Hamilton contract clause blocks Ferrari team orders - F1 insider

  • 3 hours ago
Max Verstappen misery deepens as Red Bull fail in key FIA bid

Max Verstappen misery deepens as Red Bull fail in key FIA bid

  • Yesterday 20:52
Aston Martin get F1 lifeline as FIA ruling gives crisis team a massive boost

Aston Martin get F1 lifeline as FIA ruling gives crisis team a massive boost

  • Yesterday 19:56
Max Verstappen is doing 'bizarre' 24-hour race outside F1

Max Verstappen is doing 'bizarre' 24-hour race outside F1

  • Yesterday 18:55
Fernando Alonso reveals adorable new baby name

Fernando Alonso reveals adorable new baby name

  • Yesterday 17:42

Just in

4-4
F1 in April - Six crucial dates for your diary
4-4
Lewis Hamilton contract clause blocks Ferrari team orders - F1 insider
4-4
Max Verstappen misery deepens as Red Bull fail in key FIA bid
4-4
Aston Martin get F1 lifeline as FIA ruling gives crisis team a massive boost
4-4
Max Verstappen is doing 'bizarre' 24-hour race outside F1
F1 news

Recommended by the editors

Lewis Hamilton contract clause blocks Ferrari team orders - F1 insider Lewis Hamilton

Lewis Hamilton contract clause blocks Ferrari team orders - F1 insider

3 hours ago
Max Verstappen misery deepens as Red Bull fail in key FIA bid Red Bull

Max Verstappen misery deepens as Red Bull fail in key FIA bid

Yesterday 20:52
Aston Martin get F1 lifeline as FIA ruling gives crisis team a massive boost Aston Martin

Aston Martin get F1 lifeline as FIA ruling gives crisis team a massive boost

Yesterday 19:56
Max Verstappen is doing 'bizarre' 24-hour race outside F1 Max Verstappen

Max Verstappen is doing 'bizarre' 24-hour race outside F1

Yesterday 18:55
Ontdek het op Google Play
x