Ferrari CEO Benedetto Vigna reacts to multi-year deal with new team partner

Scuderia Ferrari is continuing preparations for the 2023 Formula 1 championship and, as we wait for the official presentation of the new car, the Maranello team has confirmed the arrival of a new sponsor, while also officially confirming the departure of another.

On Thursday, the Italian side revealed a long-term partnership with American software company Genesys Telecommunications Laboratories: as a result, the Genesys branding will be displayed on the 2023 Formula 1 cars and racing suits of Charles Leclerc and Carlos Sainz throughout the next championship.

At the same time, Ferrari’s collaboration with Genesys will also extend to the Prancing Horse’s World Endurance Championship assault, as Ferrari is back competing in the Le Mans event this year with its 499P hypercar.

In the official press release, Ferrari chief executive officer Benedetto Vigna stated: “We are delighted that Genesys are joining Scuderia Ferrari as a Team Partner and will also be featured in our LMH programme. As another business focused on technological leadership they, like us, have a tireless approach to continuously improve and progress. I know that the synergies between our two businesses will deliver huge value on both sides.” – the Ferrari CEO added.

The agreement between the American software company and Scuderia Ferrari comes at the same time as the Maranello team confirmed the termination of its lucrative deal with cryptocurrency firm Velas – title sponsor of the team’s eSports project – whose logos was highly prominent on the rear wings of the F1-75 car last year. The news had been reported by several Italian media outlets in the last few days and it has now been officially confirmed by Ferrari:

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“Unfortunately, the agreement with Velas has been terminated early by us. We do not comment on matters that are the subject of a dispute and/or litigation.” – the Maranello team informed.

The departure of Velas as Ferrari team partner means the Italian side, who also ended its partnership with tech firm Snapdragon after the 2022 F1 campaign, becomes the most recent team to bring an early end to a commercial partnership with a crypto company.