Ferrari parts ways with major sponsor Velas and welcomes a replacement in new sponsor, Genesys. The Italian team has mysteriously and prematurely terminated its contract with Velas under strange circumstances, which will be replaced from the 2023 Formula 1 and WEC seasons by Genesys under a multi-year contract
Ferrari has prematurely terminated its multi-year agreement with Velas, which had become a premium partner of the Maranello-based team in 2022. At the same time, the Italian team is welcoming the company Genesys.
On the eve of the 2022 campaign, Scuderia Ferrari had announced the signing of a multi-year premium partnership with Velas Netword AG. As part of this partnership, the Velas logo appeared on both of the team’s cars throughout the season.
However, the partnership was terminated prematurely by Ferrari, Reuters reported on Thursday, but the Maranello-based team declined to comment further: “Unfortunately, the agreement with Velas has been terminated prematurely by us. We will not comment on matters that are in dispute and/or litigation,” Ferrari said.
Velas replaced by Genesys
In the wake of the announcement, Scuderia Ferrari confirmed that Genesys has joined as a title partner under a multi-year contract. Genesys, which has offices in fifty countries around the world, is a global leader in customer experience, enabling businesses to deepen the customer connection through cloud and digital technologies.
The company’s logo will appear on the cars driven by Charles Leclerc and Carlos Sainz and Genesys will also partner with Ferrari in its 499P Hypercar endurance racing programme, including the 24 Hours of Le Mans.
“We are delighted that Genesys is joining Scuderia Ferrari as a Team Partner and will also feature in our LMH programme,” commented Benedetto Vigna, Ferrari CEO.
“As another company focused on technological leadership, they, like us, have a relentless approach to continuous improvement and progress. I know that the synergies between our two companies will bring tremendous value to both sides.”