Global payment card provider Mastercard has returned to Formula 1 sponsorship by inking a deal with McLaren.
Mastercard had been known to be exploring an F1 return for some time, and has ultimately decided to join McLaren and become a 'major sponsor' of the papaya squad in what has been described as a 'multi-year' deal.
Mastercard branding will appear on the McLaren team's cars and equipment later this season, and the payment card giant says it will give cardholders exclusive access to F1 and McLaren through its Mastercard Priceless Experiences programme.
“We are constantly exploring new ways to bring value to our customers and cardholders," said Raja Rajamannar, Mastercard's Chief Marketing and Communications Officer.
"Getting them closer to their passions, what they love most, is central to this, and racing has become one of the most exhilarating, universal passions globally.
"For many people, McLaren is synonymous with racing – exciting, innovative, purpose-driven. We are thrilled to partner with them and to join our brands together in a meaningful way in the eyes of fans everywhere.”
McLaren CEO Zak Brown said he was "delighted" to land the latest blue-chip partner to McLaren's expanding sponsorship roster.
“Mastercard is an incredible brand with the iconic red and yellow logo instantly recognisable wherever you are in the world," Brown added.
"Mastercard shares our absolute passion for offering fans fantastic experiences and opportunities to truly feel part of our growing global racing community – and we are delighted to welcome them to the McLaren Racing family."
Mastercard previously entered F1 in 1997 through the short-lived Mastercard Lola squad under Lola founder Eric Broadley.
The team made one qualifying attempt at the season opening Australian Grand Prix, and folded soon after.
Mastercard then took its sponsorship to the Jordan team from 1998 until 2001, adorning the sidepods of Eddie Jordan's cars.
Mastercard's direct rivals Visa and American Express also found the way to F1 sponsorship in recent years, with Visa a title sponsor of the rebranded Visa Cash App RB team and Amex becoming F1's regional partner in the Americas and at the Las Vegas Grand Prix.
