Lewis Hamilton expressed his hope that some of the money from Formula 1’s new deal with LVMH can be used to benefit the motorsport community, although he isn’t too optimistic about it.
Formula 1 recently announced a 10-year agreement with the luxury brand group LVMH, which is expected to bring in $1 billion for the sport. Hamilton hopes that some of this money can go towards good causes.
The LVMH sponsorship is one of the biggest in F1 history, allowing the sport to feature brands like Louis Vuitton, Moët Hennessy, and TAG Heuer.
While others in F1 will be figuring out how to spend this money, Hamilton has stated that he would like part of the deal to support charitable efforts.
“All I hope is that, there probably isn’t, but I hope that there’s an impact element to that deal,” he told the media.
“Because it’s two huge organisations making a crazy amount of money in a year. It shouldn’t be about how much more money we can make; it should be about what impact we can make with this partnership.
“I bet anyone it’s not the case. Maybe I’ll be pleasantly surprised, but I really hope that would be in the conversations.”
Hamilton is involved in many charity projects himself and said he would bring up this request when he next talks with F1 president Stefano Domenicali.
“That would be the conversations I have when I sit with Stefano. He is aware of what we do as a sport and how we can make a positive impact. So maybe he’s already included that; I hope so.”
Regarding the deal that F1 called “unprecedented,” Hamilton said he was glad to see others expressing their views in the paddock.
“It’s a huge brand, LVMH; I mean, it’s incredible what they’ve achieved, and they are such a powerhouse. I’m very, very fortunate to work with one of the brands.
“They have very prestigious brands, but I think it’s cool. I remember coming to the track and people frowning at me for dressing how I wanted to dress. And now everyone comes in fashion, and LVMH is signing with the sport, so it’s great.
“I’ve always seen F1 as not particularly fashionable. It was just all racing with no real fashion focus, and I think it’s amazing that fashion now recognizes the sport.”
