Ron Dennis: The sponsorship model has changed in Formula 1
McLaren Managing Director Ron Dennis talks about his team's approach to sponsorship. According to him, the title sponsor model has evolved towards a greater variety of choices and a desire for consistency.
For several seasons now, the McLaren team no longer has a title sponsor. The departure of the telecommunications giant Vodafone in 2013 marked a completely different approach by the British team in its search for partners.
« The sponsorship model has changed year after year. For a long time, it was just about having a predominant brand associated with a team ». clarifies Ron Dennis, CEO of McLaren to the British media.
McLaren’s strategy has therefore evolved towards seeking sponsors in more specific areas: « The budget required to invest and secure a place in Formula 1 has continually increased. When you start looking to invest and race, it becomes so expensive that many companies can’t do it. So, what we’ve been doing for some time is broadening our vision to different types of comparable products that join us with common goals. » adds Dennis.
The luxury and fashion industry was logically chosen by McLaren, as evidenced by its recent partnership with Michael Kors: « Our search for a fashion brand was very focused on a brand that lives with the same kind of principles and values as we do. It is an honor to have Michael Kors on the car, considering what it represents. »
