Australian company VGW sponsoring Ferrari's Formula 1 team in 2023

An Australian firm has signed a multi-year agreement to become a Premium Partner of the Scuderia Ferrari Formula 1 team.

Virtual Gaming Worlds’ partnership starts from the first race of the season in Bahrain in March, and its branding will appear on the team’s cars and race outfits.

The Western Australia-based technology company, which specialises in online social games, has also teased “other benefits and potential collaborations”.

“We are excited to partner with Ferrari, one of the world’s most iconic global brands. With such a rich history, success in motorsport and a brand synonymous with winning, achievement, passion and luxury, we look forward to working together and our next chapter of growth,” said VGW founder, chairman and CEO Laurence Escalante, calling it a rare, amazing opportunity.

“F1 is a truly global sport with massive reach that has experienced amazing growth in recent years, particularly in the US, and there’s no bigger brand than Ferrari.

“We may operate in different industries, but share similar beliefs when it comes to the power of technology and teams for performance, and the role of passion that unites us all.”

This marks the first time an Australian company has become a top-tier sponsor of a Formula 1 team.

Ferrari Chief Racing Revenue Officer, Lorenzo Giorgetti, said: “We are pleased to announce the arrival of VGW as a Premium Partner. As leaders in the gaming technology sector, they share our passion for innovation and thinking outside the box. We look forward to working with them in offering new assets and experiences to our loyal and passionate tifosi.”

Laurence Escalate in an investor in Expert Media Pty Ltd, the parent company of CarExpert.com.au