Formula 1, the most prestigious motor racing competition in the world, has announced that it has entered into a sponsorship and data rights commercial partnership with Interregional Sports Group (ISG) in terms of which it will produce a F1 betting offering and allow fans to access new ways to get closer to the sport.
The new deal will see Formula 1, ISG and Sportradar work with data taken directly from the track on race weekends to bring F1 in line with other major global sports by enabling the development of all new in-play betting markets during Grands Prix – giving fans new ways to engage with the action.
According to a report in the Financial Times, the deal to sell betting sponsorship is worth at least $100 million over five years.
John Malone’s U.S.-based Liberty Media, who took full control in January 2017, is Formula 1’s commercial rights holder. ISG will pay an upfront fee to Liberty and recoup that money through separate deals with gambling sponsors.
ISG will also have the right to sub-license Betting Partnership Rights to exclusive betting brands around the world, subject to regulations which include:
Regionalised branded on-screen graphics
- Physical and virtual trackside signage
- Digital integration across F1’s rapidly expanding digital and social platforms
F1 will also benefit from the expertise of Sportradar Integrity Services.
Sean Bratches, Managing Director, Commercial Operations at Formula 1 commented that they are delighted to partner with ISG, which has demonstrated its impressive global capabilities through working with the likes of Serie A and La Liga.
Bratches added that they are also hugely excited to work with ISG and Sportradar on making the most of the data which is generated at every Grand Prix.
