08-07-2020, 22:10
(This post was last modified: 08-07-2020, 22:21 by Blue Baggie.)
(08-07-2020, 20:42)St Charles Owl Wrote:(08-07-2020, 20:33)Blue Baggie Wrote: Do they do franchises in the states ? Invest $100K in a driver and get a percentage of future winnings ?
Not that I am aware of. Sponsorship money basically puts your name somewhere on the car or racing suit or helmet, the money is used to keep the team running. Prize money, if there is any, I believe at my friends level goes to the team. I would assume once you get further up the ladder that might be different. Jared Andretti is paid by the team I think, my friend is unpaid but drives essentially drives for free. He has reached the level where all the finances get very complicated but as he is a senior at high school he doesn't need income, he needs the exposure.
If you can attract a named sponsor the rewards are remarkable. Whilst working for "Lear" automotive (A ford supply company in USA) they were asked / told
to sponsor the Ford F1 team being run via Jackie Stewart. The cost to stick 2 Lear logo's on the car $6 million and that was 24 years ago.
When Jaguar racing took over the team the logo's were increased in size along with the cost.
2020 the year the bubble burst