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09 October 2023

Daily Newsletter

09 October 2023

Volcan de mi Tierra added as Las Vegas GP sponsor

The tequila brand becomes the eighth presenting partner of the F1 race taking place on November 18.

Tariq Saleh October 09 2023

Tequila brand Volcan de mi Tierra has been named as a sponsor of motor racing's Formula 1 (F1) Las Vegas Grand Prix.

The brand becomes the eighth presenting partner of the inaugural race taking place on November 18.

As part of the deal, Volcan de mi Tierra’s Volcan X.A product will be available in F1’s Paddock Club area as well as other premium hospitality locations at the Nevada circuit.

Attendees will also be able to purchase Volcan at bars located within the fan zones.

For the inaugural Las Vegas Grand Prix, Volcan de mi Tierra will also be releasing a limited-edition Volcan X.A drink.

Other presenting partners include Hard Rock International, T-Mobile, Sphere, Red Bull, Google Chrome, Venetian Resort, and Resorts World Las Vegas in the third-tier sponsorship category.

Caesars Rewards, MGM Rewards, Wynn Las Vegas, and Visit Las Vegas are second-tier founding partners, while Puma, Hilton Grand Vacations, Liquid Death, Aristocrat Gaming, Fletcher Jones Imports, Switch, and Virgin Hotels serve as fourth-tier event partners.

Dutch brewing giant Heineken is the title sponsor of the 2023 Las Vegas Grand Prix, meanwhile, activating the tie-up via its Silver lager brand.

Emily Prazer, chief commercial officer of Las Vegas Grand Prix, said: “We are constantly pursuing unique and exciting ways to elevate the Las Vegas Grand Prix experience at our inaugural event, and our partnership with Volcan de mi Tierra will undoubtedly add to the world-class hospitality and entertainment that Las Vegas is known for.”

Soccer stands as the most active and main beneficiary of the payment sector's sponsorship spend

Engagement with the payments sector is not a new trend for sports rights holders, considering the year 2023, the sector remains one of the most profitable partners to the sports industry, with close to $2.5 billion commitment through 1385 active partnerships. Soccer is the primary recipient of the payment sector's $2.5 billion commitment to the sports industry in 2023, with soccer deals accounting for over 30% of total payment sponsorship value.

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