The veteran driver is not in the F1 2023 driver line-up after being axed by McLaren, and replaced by rookie Oscar Piastri, but will act as Red Bull’s third driver instead.
The free time will allow Ricciardo, who was joint-fourth in the list of 2022 F1 driver salaries, to grow his personal brand.
Ricciardo will be the executive producer for a new Hulu series, report Sport Business Journal, which “is aiming to F1’s version of ‘Entourage’”.
A separate TV role, described as “adjacent to the F1 world” but “different to a traditional punditry role” has also been lined up.
But Ricciardo is being picky with his work – he has turned down several reality TV shows.
His agents from CAA, New York’s Nick Thimm and London’s Roman Di Somma, know that Ricciardo’s profile has massively increased in the US since Netflix’s ‘Drive To Survive’.
They are exploring ways to grow Ricciardo’s clothing brand Ric3, and his wine company DR3 Wines by St Hugo. Both have already made a splash in America and the challenge is to replicate that success in other markets.
Ricciardo is sponsored by brands including Beats by Dre, EA Sports, OKX, Optus and Bombardier Recreational Products but will look to grow his client list.
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A major part of his new role with Red Bull will be to lead promotional and marketing opportunities in America. “Show car runs in key markets” is also a key element of the job.
Ricciardo does not intend to be at every race on the F1 2023 calendar but has expressed his wish to be at Las Vegas, which will please Red Bull sponsors including PokerStars.
“Even though it didn’t go our way driving wise (at McLaren), his commercial portfolio has never been bigger,” his agent Thimm said.
“As all the struggles were going on (on the track in 2022), he still evolved and rose to the top from a commercial, marketing and representation-of-the-sport perspective.
“Red Bull Racing has never hidden from the fact that the US is a priority for them, and the data of consumers from his clothing and wine business shows that America loves Daniel Ricciardo.”
