Even without particularly outstanding performances on track, Ferrari is capitalizing on the marketing impact of the seven-time Formula 1 world champion.
A guaranteed operation
Back in 2018, then Ferrari CEO Louis Camilleri described Sebastian Vettel as “our Cristiano Ronaldo” during the Italian Grand Prix at Monza. That race proved to be a pivotal – and ultimately negative – turning point in the season. Vettel, who was Ferrari’s leading driver at the time, spun out at the Roggia chicane on the opening lap after his teammate Kimi Raikkonen, whose contract was not renewed, made a decisive braking move at the Prima Variante to defend his lead following his pole position in qualifying.
The comparison came shortly after Juventus officially announced the signing of Cristiano Ronaldo, a move that, partly due to the pandemic, failed to deliver the expected results either on the pitch or financially for the Turin-based football club. When Ferrari revealed last year that it had reached a multi-year agreement with Lewis Hamilton, the parallels with Ronaldo’s transfer were immediate. After all, both Juventus and Ferrari belong to the same corporate group. However, the business risk in the two cases is not really comparable. In Ferrari’s case, Hamilton’s commercial value and the revenue generated by his presence in the team are practically guaranteed and do not depend on variables such as progression in a tournament like the UEFA Champions League. This point is underlined in an in-depth analysis by specialist Marco Iaria, published in today’s edition of La Gazzetta dello Sport.
According to estimates by the Italian sports daily, carried out in collaboration with Bologna-based market research company StageUp, the so-called “Hamilton effect” will translate into around 70 million euros of additional revenue for Ferrari in 2025. This figure could have been even higher if it had been accompanied by sporting results matching the pedigree and competitive record of the British driver, who so far has underperformed in the 14 Grands Prix contested with Ferrari.
More specifically, from January to June Ferrari’s revenues rose from 313 million euros (in the same period of 2024) to 396 million euros. This growth has been driven by increased income from new commercial partnerships and higher prize money from an improved position in the Formula 1 Constructors’ Championship. Securing second place in 2024 – an improvement over third place in 2023 – brought in between 30 and 40 million euros. Of the total revenue growth of 83 million euros, the remainder – estimated at 40 to 50 million euros – is attributed to new sponsorship deals, many of which have been linked to Hamilton’s arrival. For example, Ferrari regained a title sponsor, Hewlett-Packard (HP), after three years without one.
The other 20 to 30 million euros that complete the forecast of a 70 million euro revenue boost in 2025 thanks to Lewis Hamilton stem from brand exploitation in areas such as licensing, merchandising, and the fashion sector. Had Hamilton secured immediate victories with Ferrari, the most optimistic projections envisioned a growth exceeding 50 million euros from these activities alone. However, the results achieved so far have reduced this projection, with the realistic estimate now standing at between 20 and 25 million euros.
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