The grand prix’s most lucrative sponsor is the Victorian government, which contributed $78.1 million last year.
The 2022 Australian Grand Prix brought in $81.4 million from customers, sponsors and commercial entities. Of this, $56 million was revenue from ticket and hospitality sales and $9 million was from sponsors.
“I definitely won’t say how much it costs us,” Stamoulis said. “It is a significant part of our marketing budget for the year.” Australian Grand Prix sales and commercial general manager Darian Misko said sponsors were keen to attract some of the event’s growing audience in part inspired by the“Everyone wants to be part of the hype around F1 at the moment,” he said. “Our audience is not just the motorsport enthusiast any more, there’s sports fans and families, there’s premium seekers and young event goers.
Sean Hunt, vice-president of Australia, New Zealand and the Pacific for the hotel group, would not comment on much Marriott spent on its grand prix sponsorship but said it was in the middle of a negotiation to extend its contract. However, even hotel groups with no ties to the race are full. Hospitality analytics company STR recorded hotel bookings at 90 per cent capacity for the weekend and Hilton Melbourne Little Queen Street, Ovolo Hotels and Next Hotel all at near capacity.Not all partnerships at the grand prix involve big money. Small Melbourne tech startup JigSpace secured its logo on Alfa Romeo’s car through an “in kind” deal.
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