Sports Are Starting To Look At Each Other For Business Opportunities

Successful businesses understand that to reach and influence new demographics, they must expand their business into other industries. This is why we see companies like The Coca-Cola Company sponsor sporting events such as Euro 2020, or retail companies partnering with internet personalities.

However, the sports world has always been a little different, with many leagues and events viewing each other as competitors, particularly when it comes to ticket sales. Until recently, sports had barely begun to shatter the confines of their individual disciplines, unless it was for music, fashion, or other subsections of popular culture.

The Game-Changers

Eyes were on the British Grand Prix on July 18, one of the most famous motor races held annually since 1948. The 2021 British Grand Prix was one for the books, with the event having controversy as well as surprising business partnerships.

The controversy came after the race was paused following Lewis Hamilton and Max Verstappen’s collision on the opening lap. Verstappen then reiterated that Hamilton’s celebration after winning was unsportsmanlike since he caused the crash, but we’re sure Verstappen will use this as motivation to finish the season strongly. The Dutch driver is currently priced at +120 in the online sports betting to win the Belgian Grand Prix at the end of the summer recess. This championship looks to be one of the most competitive for a while as both Hamilton and Verstappen are performing at a top-level.

As for the business partnerships that emerged, the British racing team McLaren surprised the F1 community by supporting the Phoenix Suns, an American basketball team. Formula racing is a very marketable sport, so fans and business professionals alike were expecting the participating F1 teams to be sporting the logos of different brands. In particular, many forecasted the teams whose home race was the British Grand Prix would customize their livery to pay homage to their country. What actually happened was wildly unexpected.

On July 17, the day before the Grand Prix, the Phoenix Suns were heading into Game 5 of the NBA Finals versus the Milwaukee Bucks. McLaren decided to vocalize their support for the Suns on social media, which was likely part of its content strategy — a good strategy builds global brand recognition. McLaren also had the Suns logo displayed on Lando Norris and Daniel Riccardo’s cars at the British Grand Prix. The two McLaren drivers placed fourth and fifth, respectively.

Game 5 of the #NBAFinals tomorrow. 🏀 HUGE!

We’re backing the @Suns in their papaya jerseys. 🧡

Let’s do this, team! #RallyTheValley pic.twitter.com/SAz3MdbQsl

— McLaren (@McLarenF1) July 16, 2021

Why Is McLaren’s Support Important?

McLaren’s support for the Suns might have something to do with the similarity in color schemes (and the fact that the co-owner of the Suns, Jahm Najafi, is the vice-chairman of McLaren Racing), but there’s a bigger picture at play here, too. Sports are now happy to start converging. After all, most teams want to expand their audience within other countries. For instance, McLaren is trying to increase its influence in the United States, while the NBA recently opened its first store in the United Kingdom. 

This recent promotion by McLaren and the Phoenix Suns is a great example of how sports operate similarly to other businesses, partnering with others to grow and expand their reach.