Max Verstappen Loses $15 Million in Close Brand Deals Following ‘FIA’s Penalty’ Accusation at Singapore MotoGP
Formula 1 World Champion Max Verstappen has reportedly lost $15 million in brand deals after being penalized by the FIA following a controversial incident during the 2024 Singapore Grand Prix. The high-profile penalty, which stirred up significant debate within the F1 community, has also had financial repercussions for Verstappen, as several brands have chosen to distance themselves from the Red Bull driver amid the fallout.
The controversy began when Verstappen was accused of violating FIA regulations during the race, which led to a time penalty that affected his overall standing. While the specifics of the violation are still under review, the incident has cast a shadow over Verstappen’s performance in Singapore, leading to a string of negative publicity.
Several brands, previously associated with Verstappen, reportedly reconsidered their partnerships following the FIA’s ruling. According to insiders, a total of $15 million in sponsorships and endorsement deals have been revoked, a significant blow to Verstappen’s off-track earnings. The brands, whose names have not been disclosed, are said to have taken issue with the controversy surrounding Verstappen and the negative press that followed.
Verstappen, known for his aggressive driving style and unyielding approach to competition, has yet to comment publicly on the financial impact of the FIA penalty. However, the setback is seen as a rare dip in his otherwise dominant career. Red Bull Racing, the team for which Verstappen races, has also remained quiet on the matter but is expected to provide support to the driver as the season continues.
The financial consequences of the penalty underscore the tight relationship between on-track performance and brand image in Formula 1. As one of the sport’s most marketable stars, Verstappen’s controversies can have far-reaching effects, both on his career and his financial standing.
While some fans remain supportive of Verstappen, others believe the FIA’s penalty was justified, further dividing the Formula 1 community. As the investigation continues, Verstappen will need to focus on rebuilding his brand image and ensuring his performance on the track continues to capture the attention of sponsors.
With the next race just around the corner, Verstappen and his team will look to put the Singapore GP behind them and regain momentum as the season progresses.
