Brands
Mastercard clinches naming rights to McLaren Formula 1 team from 2026
AMSTERDAM: Mastercard has signed a landmark naming-rights deal with McLaren Racing, under which the team will compete from 2026 as the McLaren Mastercard Formula 1 team. The partnership is valued by industry observers at more than $100 million over several years, putting it among the top tier of F1 sponsorship agreements.
The announcement was made in Amsterdam by Raja Rajamannar, Mastercard’s chief marketing and communications officer and founding president of its healthcare business, alongside McLaren chief executive Zak Brown and drivers Lando Norris and Oscar Piastri.
Rajamannar said the tie-up rested on shared values of innovation, performance and fan engagement. “McLaren is the number one team, and this partnership allows us to connect fans to the sport in ways never seen before,” he said.
As part of the deal, Mastercard unveiled Team Priceless, a global fan programme aimed at bringing supporters closer to the action through behind-the-scenes access, immersive digital activations and exclusive experiences with the drivers.
The timing is strategic. Formula 1’s popularity has surged since Liberty Media acquired the sport in 2017 for $8 billion. Global TV audiences now exceed 500 million per year, with more than 45 per cent of viewers under 35 — a demographic highly prized by brands. Social media engagement grew 23 per cent year-on-year in 2024, making F1 the fastest-growing sports property online.
McLaren, meanwhile, has staged a revival, finishing fourth in the constructors’ championship last season and securing eight podiums. New technical regulations in 2026, including hybrid power units with 50 per cent electrical output, are expected to level the playing field — an opportunity McLaren intends to seize with fresh investment.
For Mastercard, the move reinforces a sponsorship strategy that already spans the UEFA Champions League, the Rugby World Cup and the Australian Open. Sports partnerships account for a significant portion of its global marketing spend, estimated at over $1.7 billion annually. By attaching its name directly to an F1 team, the company is betting that the sport’s glamour and youthful audience will deliver long-term brand dividends.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
