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Originally Posted by DrFerry
Partially agree. BUT they must have a heckuva lot of dosh to spare too because it's a nine year deal with F1.
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Crypto.com is not the only sponsor. Every banner or advertisement you see around the track cost money. Pepsi or Coke will pay big money to be official soft drink for race weekend. Some beer company will pay to be the official beer of Miami GP. Everything adds up. With current inflation, they will be racking in the money.
Link to all the sponsors of Miami GP. Crypto, JP Morgan, AutoNation, GainBridge, Red Bull, etc. These are multi year big money contracts. This race would not exist without these sponsorship contracts in place first.
https://f1miamigp.com/our-partners/
Quote:
Originally Posted by DrFerry
Crypto.com is an exchange and not traded publicly as far as I know. So a nine year sponsorship deal with F1 must be a major (huge) chunk of capital for them IMO.
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They just signed a 700mill contract for naming rights of Staples Center in LA. They apparently have money to burn.
Quote:
Originally Posted by DrFerry
Based on the virtual tour video, this has to be the most opulent 'temporary' circuit ever built.
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I wouldn't put it pass the Saudi's to have spent a lot more money on their temporary Jeddah circuit. That thing is a spectacle at night. Never underestimate oil money.