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Heineken boosts Formula One’s sponsorship revenue by£12.6m

Christian Sylt
Former Formula One driver David Coulthard and McLaren Honda F1 driver Jenson Button at the Official F1 Heineken Party after the Canadian Grand Prix - Getty Images North America

Dutch brewing giant Heineken boosted Formula One’s sponsorship revenue by around $16.8m (£12.6m) last year, according to ­accounts.

After almost two years of negotiations about sponsoring F1, the brewer got to the finish line in 2016 when it signed a deal to become its global beer partner.

Company filings from F1’s owner Liberty Media reveal that “advertising and sponsorship revenue grew in 2016, primarily driven by a new contract with Heineken.”

Heineken’s sponsorship deal got off the grid at the Italian Grand Prix in ­September last year and if it had paid pro rata for the rest of the year it would bring the annual total to around $39.2m.

Gianluca Di Tondo, Heineken’s senior global brand director, said that the deal runs “until 2023 with the possibility of stopping it at 2020”.

He added that it will boost F1’s exposure in markets that the sport is trying to crack, like the US, while “Asia Pacific, where Formula One is big and has plenty of Grands Prix, is very important for Heineken”.