Amex partners with F1 in 1st new sports sponsorship for payment company in more than a decade

LAS VEGAS -- American Express on Monday announced a multi-year partnership with Formula One in the first new sports sponsorship in more than a decade for the global payment company.

The deal to become the official payments partner of F1 in the Americas is Amex's first multi-market Sports partnership and spans the global racing series' stops in Austin, Texas; Mexico City; São Paulo; Las Vegas; Miami and Montreal. American Express will also sponsor F1 Academy.

F1 races this weekend at Circuit of the Americas in Austin, in Mexico City the next weekend and then Brazil before the inaugural Las Vegas Grand Prix in November.

“The F1 fan base and viewership has grown exponentially over the past several years, so we are thrilled to bring the exclusive access and unique experiences that American Express is known for to our card members and racing fans," said Elizabeth Rutledge, chief marketing officer for American Express.

"The addition of F1 to our global portfolio of partnerships helps us continue to create meaningful value for our customers, in the areas they’re most passionate about.”

The deal to become F1's official payments partner will give American Express card members special benefits including early access to race tickets, F1 Experiences, and paddock club access in the Americas region. There will be additional benefits on-site for Amex card members at races in North, Central and South America.

“As we continue to grow our presence in the U.S., we believe American Express will introduce a new wave of fans to the sport though offering premium once-in-a lifetime moments to their card members, and support F1 in our efforts to further enhance and elevate the fan experience in this crucial market," said Jonny Haworth, F1's director of commercial partnerships.

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AP auto racing: https://apnews.com/hub/auto-racing