Formula 1: SAP (software) official partner of Mercedes-AMG Petronas F1 Team from 2024

German IT company SAP has become an official partner of the Mercedes-AMG Petronas F1 Team as part of a "multiyear" agreement starting with the 2024 season, announced the British team on 29/11/2023.

As part of the agreement, SAP will provide Mercedes with several solutions aimed at reducing costs. Each season, Formula 1 teams are subject to a spending limit set by the FIA ($137.4m/€125.3m in 2023), and any breach of this limit can result in financial or sporting penalties. Other solutions will also be deployed to "optimise both the supply chain and stocked items" and reduce "lead times for critical car components."

The American energy drink brand Monster Energy, meanwhile, has left the British team's sponsorship portfolio after 14 consecutive seasons of partnership, and has committed itself to McLaren Racing for the 2024 season, on 28/11/2023. Its logo will appear on the drivers' helmets and teamwear.