Qatar Airways will be the new sponsor for Formula 1! The collaboration between Formula 1 and Emirates has ended due to taxes!
At the end of 2022, the partnership between Formula 1 and Emirates has ended. After a decade of collaboration, Formula 1 will have a new major sponsor and it is expected to be Qatar Airways. An official announcement would be made before the first race of the new season Formula 1 2023.
SportBusiness has announced that the partnership between Formula 1 and Emirates has ended and the new sponsor and official airline of the Formula 1 competition will be Qatar Airways, with the announcement to be made before the start of the race in Bahrain, scheduled for 3-5 March .
Why did the relationship between Formula 1 and Emirates break down? Rumors in the market say that the tax is too high. Until now Emirates paid $25 million a year, but from 2023 the new fee imposed by Formula 1 is expected to double.
Following negotiations for a new sponsor, Sport Business announces that the big winner will be Qatar Airways. Probably for the next few years, Qatar Airways will be the official sponsor and carrier of the competition, and the Qatar Airways brand will be seen on all Formula 1 circuits.