The Aston Martin team of the Formula 1 motor racing series has announced a new partnership with the Saudi Arabian mining and metals firm Ma’aden.
Ma’aden branding will appear on the two Aston Martin cars, beginning with the upcoming 2024 Brazilian Grand Prix weekend, which will take place in Sao Paulo across November 1-3.
The partnership, Aston Martin states, will help to grow Ma’aden’s brand awareness internationally and aid its aims to attract high-quality staff.
Ma’aden solely operates within Saudi Arabia, which hosts an annual Grand Prix on the Formula 1 calendar.
Aston Martin F1 team is known fully as the Aston Martin Aramco Formula One team owing to its partnership with the Saudi Arabian oil company Aramco, which is sponsoring the team through 2028.
Speaking on the deal, Aston Martin F1 team executive chair Lawrence Stroll stated that the partnership “is an important step in our journey in Formula One and demonstrates the attractiveness of our team for brands with a long-term vision for success like Ma'aden.”
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By GlobalDataMa’aden chief executive Bob Wilt added: “Partnering with Aston Martin Aramco is a great opportunity for Ma'aden to really own its place as one of the fastest growing players in the global mining industry.”
This partnership is Ma’aden’s first sports sponsorship but the company is owned by the Saudi state, which also majority owns Aramco, meaning this deal only deepens Aston Martin’s ties to the Saudi regime, which in the past has been accused of using its sports investments to launder its reputation for human rights abuses.
Other prominent Aston Martin F1 sponsors include former title sponsor Cognizant and employment services business Circle8.
Aston Martin currently sit fifth in the 10-team F1 constructors' table.