Cryptocurrency platform Crypto.com has signed a nine-year deal to become the title sponsor of Formula 1’s newest race, the Miami Grand Prix.
As the first commercial partner announced for the race, Crypto.com is building on its relationship with F1 that started last year. The currency platform became a global sponsor of the sport in a five-year, $100 million deal in June.
Crypto.com branding will be seen throughout the venue.
- With an exclusive observation deck at the track’s fourth turn, the Crypto.com Terrace hospitality area will feature 360-degree views. The first level will be open to all fans.
- The Crypto.com Fan Zone, which includes entertainment and activities the entire weekend, is in the center of the Hard Rock Stadium.
The event will take place May 8-10 at the Miami International Autodrome.
Crypto’s Crown
Financial terms of the deal were not disclosed, but Crypto.com is likely paying a pretty (virtual) penny as it adds to its roster of sports deals.
As part of a 20-year, $700 million deal, Crypto.com took over naming rights to the iconic Staples Center in December.
In September, the platform signed a jersey patch deal with the Philadelphia 76ers worth roughly $10 million annually, and a three-year deal worth up to $35.4 million with Paris Saint-Germain. In July, it struck a 10-year, $175 million branding deal with the UFC.
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