Prioritizing Sponsorship Resources in Formula One Racing: A Longitudinal Analysis

in Journal of Sport Management
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  • 1 Northern Kentucky University
  • 2 Western Carolina University
  • 3 University of North Carolina at Chapel Hill
  • 4 Northeastern University
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Accessing and exploiting organizational resources are essential capabilities for competitive sport organizations, particularly those engaged in motorsports, where teams lacking resources frequently dissolve. Corporate sponsorship represents a common method for resource acquisition, yet not all sponsorships equally benefit the sponsored organization. Sponsorship utility can be dependent on institutional dynamics such as league governance that produces competitive disparities. Through this study we extend the resource-based view to assert that sponsorships vary in their propensity to contribute to team survival, warranting prioritization in sponsorship strategy based on access to different sponsor resources. To empirically investigate the influence of a variety of sponsorships, survival analysis modeling was used to examine 40 years of corporate sponsorship of Formula One racing teams. One finding from the longitudinal analysis was that sponsorships offering financial or performance-based resources enhance team survival to a greater degree than operational sponsorships. However, such prioritization is subject to team experience, changes in institutional monetary allocation, and diminishing returns.

Joe Cobbs is with the Department of Marketing, Economics, and Sports Business, Northern Kentucky University, Highland Heights, KY. B. David Tyler is with the College of Business, Western Carolina University, Cullowhee, NC. Jonathan A. Jensen is with the Department of Exercise and Sport Science, University of North Carolina at Chapel Hill, Chapel Hill, NC. Kwong Chan is with the Department of Marketing, Northeastern University.

Address author correspondence to Joe Cobbs at cobbsj1@nku.edu.
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