Mercedes announce deal with new sponsor after FTX crisis

Mercedes have welcomed a new sponsor ahead of the launch of their 2023 challenger, the W14, on February 15.

Mercedes have announced a new multi-year partnership with vehicle lifecycle management software firm Solera, who are based in Texas, United States.

The announcement of the new partnership comes not too long after the Silver Arrows terminated their deal with crypto exchange site FTX, after the company filed for bankruptcy.

As part of the deal with Solera, the brand’s logo will feature on the W14, team clothing, and on the drivers’ and pit crew’s overalls, making it visible for the world to see.

As well as this, the Solera logo will also be on the Mercedes-AMG that is used to conduct ‘Hot Laps’, something which traditionally sees celebrities taken around the circuit during or prior a race weekend.

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Solera certainly have a global reach, with the company having over 300,000 customers in over 100 countries.

Mercedes boss Toto Wolff is “delighted” to be partnering with a company that boasts such an impressive “reputation”, with Solera being an “industry leader”.

“Data innovation, combined with the drive for ultimate performance through people, processes, and technology, are hallmarks of a successful business and team,” Wolff said.

“We are delighted to welcome Solera to the team as a partner, not only due to their reputation as an industry leader but owing to our shared beliefs and values.”

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“It is fantastic to welcome Solera to our growing partner family,” Richard Sanders, Mercedes’ commercial director added.

“As leaders in our respective industries, there are many synergies between our two businesses. We are excited to begin our relationship and highlighting the Solera brand to our global audience.”

Solera CEO Darko Dejanovic is equally as “excited” to be partnering with Mercedes for at least the next two seasons, with the CEO recognising the new collaboration as a chance to “break new boundaries”.

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“Solera and the Mercedes-AMG PETRONAS Formula One Team share the same commitment to transform the automotive industry,” Dejanovic said.

“That’s why we’re excited about this collaboration. It presents an opportunity to break new boundaries and inspire excellence on a global scale.”

Solera’s logo will be visible when the team’s 2023 challenger is unveiled to the world on February 15, as they prepare to reclaim their spot at the top after slipping to third in 2022.