Entries to be judged by some of the biggest names in the automotive industry: Formula 1 ® President and CEO Stefano Domenicali, FIA Formula One World Drivers’ Champion 2009, Jenson Button, and General Manager & Head of Vehicles at Mattel Ted Wu

EL SEGUNDO, Calif.--(BUSINESS WIRE)--May 19, 2026-- Mattel, Inc. (NASDAQ: MAT), a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world, today announced a global search for the first-ever Hot Wheels® Tiniest Team Principal™. One Tiniest Team Principal each from the United States, United Kingdom and Mexico will be chosen and flown with their families to Hot Wheels headquarters in El Segundo, Calif., where things get real. They will meet the design and executive teams behind Hot Wheels and Formula 1®, test their instincts, and prove they can handle the pressure of picking and designing their very own Hot Wheels F1® die-cast car — all while stepping into an official ambassador role for the brand. The Hot Wheels Tiniest Team Principal will also receive VIP access to the Formula 1® Grand Prix in their home country.

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The Hot Wheels Tiniest Team Principal™ was created for a leader who is obsessed with cars but cannot legally drive them, the kind of kid who treats track building like engineering, customization like a flex, and race day like everything is on the line.

Entry period will open on May 20 through June 16 for what is quite possibly the most important role in racing for someone who still has a bedtime.

The Hot Wheels Tiniest Team Principal™ was created for a leader who is obsessed with cars but cannot legally drive them, the kind of kid who treats track building like engineering, customization like a flex, and race day like everything is on the line. Starting today through June 16, parents or legal guardians can submit an entry video on TikTok or Instagram (see the Official Rules at mattel.com/hot-wheels-f1). Official winners will be announced on June 23.

Entries will be reviewed by a panel that knows a thing or two about racing, including:

• Stefano Domenicali, President and CEO of Formula 1®
• Ted Wu, General Manager & Head of Vehicles and Building Sets at Mattel
• Jenson Button, FIA Formula One World Drivers’ Champion and F1 Ambassador
• Kristina Albrecht, Hot Wheels Designer for Hot Wheels F1® Premium Product

Parents or legal guardians of kids between the ages of five and ten are invited to show their child has what it takes make big decisions at 1:64^th scale and represent the number-one selling toy in the world.* One winner will be named the first-ever Hot Wheels F1® Tiniest Team Principal™ for their country and step into a role that turns imagination into authority.

Ted Wu, General Manager and Global Head of Vehicles and Building Sets at Mattel said, “The task is simple. We are looking for someone who builds, rebuilds, and takes on every challenge. A kid with strong opinions on what makes a car faster, cooler, and more fun. The Tiniest Team Principal might even take my job for the day… as long as I get it back.”

Submissions can include custom trackset builds, race predictions, original designs, or a passionate explanation of how they would run an F1® team. If they have ever rebuilt a track to make a loop bigger, argued passionately about which Hot Wheels is faster, or watched an F1® race before snack time, they are already overqualified.

The grand prize winner will not just go to a race. They will show up with a title. The Hot Wheels Tiniest Team Principal™ will receive:

• An all-expenses-paid trip to either FORMULA 1 BRITISH GRAND PRIX 2026, FORMULA 1 UNITED STATES GRAND PRIX 2026 or FORMULA 1 GRAN PREMIO DE LA CIUDAD DE MÉXICO 2026 (depending on the market)
• Behind-the-scenes access to Formula 1® and Hot Wheels
• Custom Team Hot Wheels race gear
• A chance to work with Hot Wheels designers to create a one-of-a-kind Hot Wheels F1 car and preview what comes next
• A voice in future Hot Wheels F1® liveries
• A reserved parking spot during an exclusive visit at Hot Wheels headquarters labeled “Hot Wheels Team Principal” (for Mom or Dad’s car, of course)
• The full Hot Wheels F1® product line of die-cast cars and track sets

Jenson Button, 2009, FIA Formula One World Drivers’ Champion, said, “In Formula 1®, the difference between winning and losing can come down to one decision. Kids make those kinds of calls every time they play with Hot Wheels. I know the Hot Wheels Tiniest Team Principal will keep the rest of the Paddock on their toes.”

The program is open to parents or legal guardians of children between the ages of five and ten. No experience required. Car obsession encouraged. Strong opinions expected. Fluency in “vroom vroom” preferred.

For official rules, submission guidelines, and eligibility requirements, visit mattel.com/hot-wheels-f1.

About Mattel

Mattel is a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends™, UNO®, Masters of the Universe®, Matchbox®, Monster High®, Polly Pocket®, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential. Visit us at mattel.com.

About Formula 1®

Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: FWONA, FWONK, LLYVA, LLVYK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.

*Source: Circana, LLC, Retail Tracking Service, G10 (US, CA, MX, BR, SP, UK, DE, IT, FR, AU), Total Toys, Projected USD, Jan to Dec 2025 vs YA

MAT-W

View source version on businesswire.com: https://www.businesswire.com/news/home/20260519036153/en/

Press Contacts:
Mattel Press Office
press@mattel.com

Formula 1 Press Office
f1media@f1.com

Source: Mattel, Inc.