American Express has become the official payments partner of the Formula 1 series in the Americas.
After exploring multiple sponsorship avenues throughout the years such as football, basketball, tennis, golf, music, theatre and more, the new Formula 1 deal marks the first new sports vertical that AmEx has approached in over a decade.
Elizabeth Rutledge, Chief Marketing Officer, American Express, added: “The F1 fan base and viewership has grown exponentially over the past several years, so we are thrilled to bring the exclusive access and unique experiences that American Express is known for to our Card Members and racing fans.
“The addition of F1 to our global portfolio of partnerships helps us continue to create meaningful value for our customers, in the areas they’re most passionate about.”
Becoming an F1 sponsor will allow American Express to offer its card members in the Americas a variety of benefits, including early access to F1 Experiences ticket packages available at all races, as well as regional Paddock Club and Grandstand tickets.
As a result of the new partnership, AmEx card holders will be able to enjoy various benefits across the upcoming Formula 1 racing season, starting with the US Grand Prix in Austin this month when eligible members can tune into the complementary AmEx Race Radios service that will provide exclusive commentary from around the track.
More rewards and prizes will be unlocked as the inaugural F1 Las Vegas Grand Prix 2023 sets off in November.
Emily Prazer, Chief Commercial Officer, Las Vegas Grand Prix Inc, added: “As we prepare for our inaugural Vegas race, it’s crucial that we partner with brands that enhance the overall guest experience and exceed their expectations.
“American Express continues to bring new and exciting opportunities for sports fans around the world, and we look forward to working together to create once-in-a-lifetime experiences for their Card Members.”
Furthermore, as part of its contractual obligations AmEx will support not only the Formula 1 main events but also the F1 Academy – the all-female racing series committed to strengthening female participation in motorsport.
Jonny Haworth, Director of Commercial Partnerships, Formula 1, concluded: “We are thrilled to welcome American Express as an Official Partner of Formula 1 in the Americas.
“As we continue to grow our presence in the US we believe American Express will introduce a new wave of fans to the sport through offering premium once-in-a lifetime moments to their Card Members, and support F1 in our efforts to further enhance and elevate the fan experience in this crucial market.
“It’s also fantastic to see a global brand like American Express supporting F1 Academy and the work the series is doing to drive lasting change in our sport.”