Motorsport Athlete Endorsement Deals Increase 40% Year-Over-Year
STAMFORD, Conn., May 4, 2023 /PRNewswire/ -- SponsorUnited, the leading global sports and entertainment intelligence platform tracking 1.1 million sponsorships and endorsements for 250,000 brands and properties across sports, media, music and entertainment, today released its 2022-23 Motorsports Marketing Partnerships Report, analyzing over 4,200 brands, 200 athletes and 3,000 social posts in Motorsports, which consists of NASCAR Teams, NASCAR Tracks, Indycar, Formula 1 (F1), Formula E, and MotoGP.
- Racing series, track and athlete sponsorships are continuing to rise, with over 4,000 brands sponsoring motorsports.
- Endorsement deals increase 40% for motorsports athletes: The motorsports athlete sponsorships grew 40% while deals per brand increased 25% between 2021 and 2022.
- Motorsport athletes average twice as many endorsement deals as their major pro sports counterparts, with 5 and 2.5 each, respectively.
- "Coupled with the growing popularity of motorsports, we're also witnessing a surge in endorsement deals for the athletes that make this sport so captivating.