United Parcel Service (UPS), the American multinational shipping company’s sponsorship agreement with the Formula 1 team, Scuderia Ferrari has been terminated.
Since 2013, UPS has been a partner of the Formula 1 team, serving as its official logistics and shipping partner.
Logistics is a critical category for F1 teams because they transport freight all over the world monthly to support the series’ global schedule.
Their previous contract had the UPS logo on Ferrari race suits. The team’s official website also stated that they have been “providing time-critical deliveries, insights, and support to the Ferrari network worldwide.”
Recently, Ferrari has also announced that they have officially dropped the tobacco brand, Mission Winnow from their team’s name. The discussion about Philip Morris International’s future is yet to be decided.
The team has replaced UPS with new sponsors. Santander will be returning as a team partner after the bank’s logo appeared on their cars throughout the 2010s.
Velas, the Swiss technology company has also joined the team as a sponsor.