32.8 C
Kerala

Hamilton’s arrival, Ferrari shares soar drastically

Published:

- Advertisement -

Lewis Hiamilton’s presence also has a significant impact on Ferrari’s economic sector. It is rumored that the shares of the manufacturer based in Maranello Italy have soared.

Quoted from crash.net, based on the narrative of sports business expert, Joe Pompliano, Ferrari shares are estimated to rise by up to 7 percent.

- Advertisement -

Joe also compared this condition to the situation when Hamilton moved from McLaren to Mercedes. At that time the manufacturer nicknamed The Silver Arrow also experienced something similar.

“The Mercedes F1 team received about 25 per cent of all TV time during the winning season. The valuation increased from 400 million US dollars to 2,7 billion,” said Joe.

Former Formula 1 racer in the 2010-2011 era, Karun Chandhok, also spoke up regarding this phenomenon. According to him, Hamilton still has the power to influence the value of a team.

- Advertisement -

“The power of the name Lewis Hamilton. Ferrari’s share price jumped by 6 percent, with a market cap of 66 billion. His (Hamilton’s) news is worth at least 4 billion US dollars,” said Chadhok.

For information, currently, Ferrari is still the team that has the highest value in Formula 1. According to Sportico, despite not winning at all last season, at least the red team is estimated to be worth 3.13 billion US dollars.

The second position is occupied by Mercedes with a value of US$2.7 billion. Red Bull is third with a value of US$2.42 billion.

- Advertisement -

Related articles

Recent articles