When the Formula 1 drivers hurtle around Melbourne’s Albert Park track at speeds of more than 300km/h this weekend, virtually every centimetre of their body, cars and the course will have been sold to a sponsor.

Several Australian personalities and companies have jumped on board this year for what is described as the richest sport in the world. These include Atlassian co-founder Mike Cannon Brookes, who has tied up with UK-based Williams, Airtasker’s partnership with the Racing Bulls F1 team, and forex and CFD broker Pepperstone with the Aston Martin Aramco team.