Heineken has added another five years to its sponsorship agreement with Formula One.
The worldwide tie-up, which commenced in 2016, will now run to 2027 with the group’s namesake beer brand retaining its headline sponsorship. While financial details were not disclosed, recent reports put the cost at around US$50m per year.
The news comes almost seven months after Heineken secured the lead sponsorship of this season’s Las Vegas Grand Prix for the Heineken Silver brand extension. The 4%-ABV lager launched in the US in April.
In this week’s announcement, Heineken said the arrangement will push responsible drinking messaging fronted by the alcohol-free version of the brand. The company recently unveiled ‘Player 0.0’, a gaming initiative featuring Red Bull Oracle driver & current F1 champion Max Verstappen in his capacity as Heineken 0.0 ambassador.
“We’re incredibly happy to announce this extension to our long-running partnership with Formula One,” global head of Heineken brand Bram Westenbrink. “These deals continue developing our wider strategy to be the number one brand for engaging and entertaining sports fans across the globe, while promoting responsible consumption.”
In April, the brand owner reported a near-9% sales increase from the first three months of 2023, although also noted a slight dip in volumes for Heineken 0.0 in the period.
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