F1 sponsors drivers in GP2, GP3 - report

The company that runs formula one sponsors key junior drivers in the feeder categories GP2 and GP3.

That is the finding of F1 business journalist Christian Sylt, having studied the prospectus of the sport’s planned stock market floatation.

With colleague Kate Hewitt, he wrote in Forbes that the identity of the drivers who have benefitted is not known, but they are reportedly selected on the basis it may develop the sport "in key markets".

The prospectus states that "From time to time, we sponsor GP2 and GP3 drivers to encourage the development of the sport in key markets".

This year’s GP2 season kicked off recently in Bahrain, including Indonesian race winner Rio Haryanto and American Alexander Rossi.

The GP3 championship, meanwhile, begins next weekend in Barcelona, with the field this year boasting Chinese Adderly Fong and Kuwaiti Zaid Ashkanani.

The prospectus states that F1 intends "to develop and foster, via GP2 and GP3, drivers from new countries, regions and markets who are capable of progressing to formula one".

"Since the presence of a national driver in the competition can be a significant catalyst for the sport’s popularity in a given country, we expect this initiative to further drive local market popularity and awareness of formula one, underpinning and developing our fan base and the value of our commercial rights," it added.